2013-12-31 11:01 PM
SHENZHEN, China--(BUSINESS WIRE)--Dec 31, 2013--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 mobile devices, announced changes to its organization that will focus the company on key strategic operations and high-growth business opportunities.
In 2014, ZTE will channel increased resources to grow its 3 pillar businesses: operators, mobile devices and enterprise. At the same time, ZTE will step up efforts to target three emerging market segments: metropolitan public IT systems, new energy technology and mobile Internet.
ZTE Mobile Devices will operate as an independent unit of the company, to be headed by Mr. Zeng Xuezhong, Executive Vice President of ZTE. Mr. Zeng was previously in charge of ZTE's operations in China. Mr. He Shiyou, Executive Vice President of ZTE and the former head of terminals, will remain as an Executive Director of ZTE Corporation.
Mr. Pang Shengqing, Senior Vice President of ZTE, has been appointed as head of ZTE's enterprise business. ZTE anticipates that rising demand for cloud-computing, big data, Smart City and the Internet of Things will help drive growth in the company's enterprise business.
Mr. Zhao Xianming, Executive Vice President of ZTE, has been appointed Chief Technology Officer of ZTE.
In ZTE's business serving telecommunications operators, the company will intensify its focus on key areas of higher profitability and strive for increased efficiency by adopting a flattened management structure. ZTE aims to be a market leader in 4G, and will pursue game-changing breakthroughs in development of 4G equipment, 4G semiconductors and 4G devices.
"In 2014, the company is excited about the opportunities in enterprise and mobile devices, and the organizational changes will strengthen our capabilities in these areas," said Mr. Hou Weigui, Chairman of ZTE Corporation. "Telecommunications and technology are intensely competitive industries, and it is vital that we constantly renew ourselves in order to excel."
"It is important for the company to become faster, more entrepreneurial, more youthful and more focused," said Mr. Shi Lirong, President of ZTE Corporation. "We need to execute changes in our strategy, our organization and our culture in a responsive and timely way."
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 160 countries, helping them to meet the changing needs of their customers while growing 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.
CONTACT: ZTE Corporation
Margrete Ma, +86 755 26775207
Mark Lee / Andres Vejarano, +852 2837 4756 / 2837 4735
KEYWORD: ASIA PACIFIC CHINA
INDUSTRY KEYWORD: TECHNOLOGY HARDWARE TELECOMMUNICATIONS MOBILE/WIRELESS
SOURCE: ZTE Corporation
Copyright Business Wire 2013
PUB: 12/31/2013 09:45 AM/DISC: 12/31/2013 09:45 AM