ZTE shares rise albeit expectations of $1.3B loss in H1 2018
The US Department of Commerce lifted the ban on ZTE trading with American manufacturers last week. The resolution was reached after ZTE managed to pay over $1.4 billion in fines and replace all its board of directors and key employees.
The decision was good news for the stock market in Hong Kong and Shenzhen, where the company's shares jumped by 15% and with the daily 10% limit, respectively. ZTE stated on Weibo that it plans to “set out with full confidence,” even if financial estimates for the first half of 2018 are suggesting a loss of CNY9 billion ($1.3 billion).
ZTE also released a statement on the Chinese social media, revealing its plans to continue working as scheduled, including research & development, product launch, and support. An analyst from Zhongtai Securities spoke to Bloomberg, saying the financial estimates led to a market decline that reflected concerns about shrinking expenditure, the ZTE issue and the trade relations between China and the United States.
With ZTE stepping back on its feet, we will hopefully see the nubia Z18 with a screen on the back and the Axon 9 series by the end of the year. The nubia flagship should have the third generation of full-screen technology, while the latter was trademarked by the Eurasian Economic Commission.
- 21 Jul 2018
Yes man had many phones from this brand and was always satisfied.
- Walter C. Dornez
- 21 Jul 2018
You trust Lenovo?
- 20 Jul 2018
Well me too but i rather stick to brands i trust like Lenovo, Motorola or Xiaomi also Razer.