XI'AN, China -- ZTE posted a net loss of 7.8 billion yuan ($1.1 billion) for the first half ended June 30, falling from the year-earlier 2.3 billion yuan profit as a monthslong ban on American technology imports exacted a toll.
Operating revenue fell 27% to 39.4 billion yuan, the Chinese telecom equipment maker said Thursday. ZTE was forced to halt operations shortly after the U.S. banned domestic suppliers from doing business with the Chinese company for violations of Iran and North Korean sanctions.
