ZTE and Hi3G Sweden Sign Strategic Deal Worth US$74 Million
8 May 2012, Shenzhen, China – ZTE Corporation (“ZTE”) (H share stock code: 0763.HK / A share stock code: 000063.SZ), a publicly-listed global provider of telecommunications equipment and network solutions, has signed a strategic cooperation agreement with Hi3G Sweden worth USD$74 million in the presence of China’s Prime Minister Wen Jiabao and Sweden’s Prime Minister Fredrik Reinfeldt during Mr. Wen’s recent visit to Sweden.
According to the agreement, ZTE will deploy several thousand UMTS/LTE TDD/LTE FDD base stations, as well as auxiliary microwave and data transmission equipment over the next three years.
“We are very glad to ink the deal with Hi3G in Sweden where the two companies launched the world’s first multi-mode LTE network,” said Mr. Huang Zheng, CEO of ZTE Sweden. “The deployment of ZTE equipment in Sweden shows that we have achieved a world leading position in terms of telecoms technology, product solutions and services.”
ZTE Uni-Ran solutions have effectively helped Hi3G Sweden to integrate multiple radio technologies into one network which began commercial operation at the end of 2011 and became Europe’s first large-scale LTE TDD network.
In his keynote speech at MWC 2012 about the deployment of the multi-mode network, Hi3G Sweden CTO Jörgen Askeroth said: “Over the past 12 months, Hi3G Sweden and ZTE went all out to deploy the LTE network in Sweden. ZTE offers professional support and achieved the target commercial launch date of December 15, 2011. As of now, TDD performance is better than expected”.
ZTE is a publicly-listed global provider of telecommunications equipment and network solutions with the most comprehensive product range covering virtually every telecommunications sector, including wireless, access & bearer, VAS, terminals and professional services. The company delivers innovative, custom-made products and services to over 500 operators in more than 140 countries, helping them to meet the changing needs of their customers while growing revenue. In 2011, ZTE’s revenue increased by 29 per cent to USD13.7 billion. Its overseas operating revenue grew 30 per cent to USD 7.4 billion during the period, accounting for 54.2 per cent of overall operating revenue. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in several international bodies devoted to developing telecommunications industry standards. ZTE is committed to corporate social responsibility and is a member of the UN Global Compact. The company is China’s only listed telecom manufacturer that is publicly traded on both the Hong Kong and Shenzhen Stock Exchanges (H share stock code: 0763.HK / A share stock code: 000063.SZ). For more information, please visit www.zte.com.cn.