ZTE delays earnings report as it assesses impact of U.S. ban

Chinese telecom firm ZTE is delaying this week's scheduled quarterly earnings report as it scrambles to deal with a Commerce Dept. ban that keeps it from buying U.S. components for the next seven years, the WSJ reported Wednesday.

Why it matters: The order is a huge blow to the company, especially for the smartphone part of its business that relies on chips from Qualcomm and software from Google and others.