US probe 'helps set ZTE up for huge loss'

US investigations into ZTE are part of the reason the Chinese telecommunications equipment maker expects a huge net loss in the first nine months of this year.

For the first three quarters, the Hong Kong-listed firm announced yesterday it expected a net loss of 1.65 billion yuan (HK$2.03 billion) to 1.75 billion yuan, in contrast to a net profit of 1.07 billion yuan in the same period last year.

For the third quarter, ZTE forecasts a net loss of 1.9 billion yuan to two billion yuan, in contrast to a profit of 299.27 million yuan in last year's third quarter.

via Business feed http://www.scmp.com/business/companies/article/1061121/us-probe-helps-set-zte-huge-loss