Visitors testing smart phones at the ZTE's stand during the recent Mobile World Congress in Barcelona. The US government has slapped $1.2 billion in fines on Chinese telecom giant for violations of US export controls for selling goods to Iran and North Korea. Photo: AFP

ZTE posts 2bn yuan annual loss as US export fine bites

Shares close up 6.07pc in Hong Kong, as uncertainty over violation of trade sanctions lifted. Telecoms giant now predicts 21-31pc improvement in Q1 profit

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Visitors testing smart phones at the ZTE's stand during the recent Mobile World Congress in Barcelona. The US government has slapped $1.2 billion in fines on Chinese telecom giant for violations of US export controls for selling goods to Iran and North Korea. Photo: AFP
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