SHENZHEN-BASED telecom equipment group ZTE Corp. has obtained a further reprieve to Feb. 27 on export restrictions that were imposed on the company by the U.S. Government.

    In March, the U.S. Commerce Department hit ZTE with some of the toughest-ever U.S. export restrictions for allegedly breaking sanctions against Iran but has since issued temporary reprieves on the curbs.

    The latest reprieve comes after ZTE said last week it had appointed Matthew Bell as its new chief export compliance officer based in the United States.

    If imposed, a ban for U.S. component makers and software firms to do business with ZTE could cut off much of the firm’s supply chain.

    Speculation arose earlier this year that ZTE might switch to non-U.S. component suppliers after the ban, but the fact that it was continuing to source chipsets from Qualcomm Inc. was proof to some analysts that ZTE was not switching suppliers and would work toward getting the ban lifted.

    “There’s a high chance that there will be a permanent removal of the U.S. export restriction,” said UOB Kay Hian (Hong Kong) analyst Cindy Lam.

    ZTE said in a statement Friday that it will continue to cooperate with the relevant U.S. government departments to reach a final solution on the matter and strictly comply with relevant U.S. laws. (SD-Agencies)