ZTE was accused of violating US trade sanctions against Iran and North Korea and the company plead guilty to those charges. It has agreed to pay a settlement of $892 million, a fine that pushed the company's bottom line in the red - a $760 million loss for the final quarter of 2016. The company could be on the hook for another $300 million if it violates the conditions of the settlement. The quarter before that ZTE posted a profit of $158 million, but the fine was big enough to put the company's profits for the whole 2016 into the negative - a $343 million loss, instead of the expected...
Source: http://www.gsmarena.com/zte_posts_a_loss_in_final_quarter_of_2016_due_to_us_fine-news-24153.php
