ZTE and Hi3G Sweden sign strategic deal worth US$74 million

May 8, 2012

1 Min Read

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 Corp. (Shenzhen: 000063; Hong Kong: 0763)

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like