Comms chips

ZTE's Chip Subsidiary Takes $376M External Investment

SHENZHEN, China -- ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the mobile internet, announced that its ZTE Microelectronics Technology Company Ltd. subsidiary had agreed to a proposed RMB 2.4 billion (USD 376 million) investment by the National Integrated Circuit Industry Investment Fund Corporation.

Under the agreement, the National Integrated Circuit Industry Investment Fund will acquire 24 percent of the enlarged shareholding of ZTE Microelectronics. The new investment will enhance ZTE Microelectronics’ research and development capabilities, and strengthen its offerings in advanced semiconductor technologies, as well as broadening its marketing and distribution channels in China and international markets.

ZTE Microelectronics focuses on the development of semiconductor technologies for applications including telecommunications, mobile devices, Big Data, cloud computing, Internet of Things and wearables. With more than 2,000 research and development (R&D) employees in offices in China and the United States, ZTE Microelectronics is currently developing products with 28 nanometer technologies, and also possesses R&D capabilities for 16 nanometer and 14 nanometer technologies.

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

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