"Major operating activities of the company have ceased" as a result of the U.S. decision, it said in a filing Wednesday.
ZTE did not immediately respond to a request for comment.
The Commerce Department recently barred ZTE from using US-made parts, effectively crippling its operations and leading to a shutdown of its factories.
In April, the Commerce Department penalized ZTE for violating a settlement with the USA government over illegal shipments to Iran and North Korea.
The U.S. ban prevents ZTE from purchasing American hardware and software for the next seven years, which is a period that effectively no tech company in the world would be able to survive unscathed. Trump wrote on Twitter, saying he is working with Chinese President Xi Jinping on a solution. The order was causing "irreparable harm" to the company and partners, as well as millions of consumers, including those who own its phones and major network operators, the person said.
Companies in the United States are estimated to provide up to 30% of the components used in ZTE's products, which includes smartphones and complex equipment for telecommunications networks. A host of big technology companies in China are racing to build out this network, sparking concerns from USA officials that a shifting reliance on technology developed outside of the US could empower Beijing to hack or spy on American businesses and other institutions.
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The incident came amidst the president's frustration over his administration's failure to fully fund the border wall . According to The New York Times , the president complained his administration has to do more on border security.
The US action could be devastating to ZTE.
Last week, the company said that its earnings have surged, reporting a 39 percent jump in net income for the first quarter.
ZTE is not among Qualcomm's publicly disclosed largest customers, which include Apple Inc, Samsung Electronics Co Ltd and Chinese smartphone makers Oppo and Vivo.
The Trump administration also barred ZTE and fellow telecom equipment maker Huawei from selling goods on USA military bases and is considering a broader crackdown on the pair's sales into the US.
ZTE's failure to comply with the 2017 Commerce Department settlement included not reprimanding or cutting bonuses to 35 employees tied to the wrongdoing, and making false statements, the Commerce Department previously found.
Beijing has made ZTE a priority in its negotiations with the US. The firm pleaded guilty to the charges in March previous year and was hit with $1.2 billion in fines.
Trading of its Hong Kong and Shenzhen-listed shares has been halted since the United States decision.