Get the latest market trends in your inbox
Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul
Tampa-St. Petersburg news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg
A U.S. ban will make it tough for ZTE to compete in the global smartphone business. Photo: ZTE
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.