ZTE's strenuous journey to get back to work seems to have finally paid off, at least for the time being. After paying a large $1 billion fine to the United States and replacing many of its executives as well as its chairman, the final step has been taken and the U.S. Department of Commerce (DOC) has lifted the ban it had imposed on the company's imports from American companies.
The news comes after ZTE deposited another $400 million in escrow in a U.S. bank, the last step for the government to give the smartphone manufacturer a vote of trust. The deposit, alongside a suspended denial of order and the compliance team monitoring the company, make up the three "interlocking elements" which the department says will help protect the national security of the United States.
The compliance team selected by the DOC's Bureau of Industry and Security will be able to monitor the company's compliance with U.S. export regulations for the next 10 years, having the power to reinstate the suspended denial order if any further violations occur.
Of course, the good news for the company is only temporary as lawmakers in the United States continue attempts to thwart the current administration's forgiveness of ZTE's violations. For now, the smartphone maker gets some room to breathe, but its future is still uncertain.
Source: U.S. Department of Commerce via Engadget
