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ZTE still in $1bn loss despite resumption of US business

Sanctions continue to bite, as company expects red ink for full year

ZTE was barred from doing business with U.S. companies for three months.   © Reuters

GUANGZHOU -- Chinese telecommunications equipment maker ZTE posted a net loss of 7.26 billion yuan ($1.05 billion) for the January-September period, with the impact of U.S. sanctions continuing to weigh on earnings.

The loss shrank from the January-June period by roughly 5 billion yuan as business resumed after the ban on purchasing U.S. parts was lifted in mid-July. But ZTE still expects to book a full-year loss of between 6.2 billion yuan and 7.2 billion yuan, the company said Thursday.

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