ZTE agrees to pay $892 million for violating US sanctions, wiping out 2 years of profits

Chinese phone maker ZTE has agreed to plead guilty on charges of violating U.S. sanctions restricting the sale of American technology to Iran and North Korea, and lying about it to investigators. It will pay $ 892 million in fees, effectively wiping out about two years of the company’s net profits. AppleInsider – Frontpage News