ZTE to Invest $30 Million More in the U.S. Market
December 11, 2012, Richardson, TX – ZTE Corporation (“ZTE”) (H share stock code: 0763.HK / A share stock code: 000063.SZ), a publicly-listed global provider of telecommunications equipment, network solutions and devices, today announced that the company will enhance its presence in the U.S. market by increasing an investment of $30 million dollars within the U.S. market. This increase is the latest development in a number of actions that ZTE has taken to demonstrate its long-term commitment to the U.S. market.
Differing from past investment in the procurement of technology products, ZTE will use this $30 million to work with a number of local partners to tap into both core and innovative technologies in the telecommunications industry. The result will be improving and integrating existing technologies, strengthening lab capabilities and other fundamental infrastructures, and building up the company’s local capabilities to work closely with operators to create better and more affordable choices for consumers around the world. The increased investment in the U.S. market will also further facilitate the development of the local economy by creating more U.S. jobs.
"ZTE is committed to the U.S. market and we look forward to continuing our investment and leveraging local talent to bring new innovations to consumers,” said Lixin Cheng, CEO of ZTE USA. “We have already established partnerships with major carriers in the U.S. and believe that these cross-border relationships will ignite the development of new communication technologies and enlarge the application scale of our joint innovations, thus helping us continue to provide affordable, environmentally friendly products that enable consumers around the world to connect in meaningful ways.”
The company has seen tremendous investment growth in the U.S market. As of the first half of 2012, ZTEhas reached aprocurement sum of more than $14.68 billion in the country. The company has established five R&D centers and one logistics center in the U.S. The local team of the companyhas reached around 300 peopleacross the U.S., and 80 percent of them are U.S. citizens.
ZTE entered the North American market in 1997 and has established relationships with national and regional telecom carriers, consumers and local communities throughout the U.S.Through partnerships with all major U.S. carriers, ZTE products now serve millions of consumers across the country.