ZTE Shares Drop A Whopping 17% After Massive Profit Warnings

Well, this is bad news for Chinese manufacturer, ZTE, their shares have now dropped to a three year low by 17%. This news follows reports that the FBI is investigating ZTE for sales of banned equipment to the country of Iran.  Even worse, ZTE has previously warned that their half-year profits could drop by up to 80%. The outlook isn’t looking too bright with ZTE and the fact that they haven’t released a single high-end handset in the U.S. doesn’t exactly help. ZTE is either going to have to get their act together or face the reality that they may not be able to stay in business much longer. Do any of you have a ZTE handset?

BBC

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