2014-08-26 10:42 AM
SHENZHEN, China--(BUSINESS WIRE)--Aug 25, 2014--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, has won a wireless project contract from COSMOTE Romania, the largest multinational mobile operator in the Balkans, to transform its existing 2G/3G network and build a new LTE network in southern Romania.
The deal is expected to require construction of more than 3,000 base stations, reinforcing ZTE's leading place in the European LTE market.
Based in Greece, COSMOTE Group has its major operations in South Eastern European countries, including Greece, Albania and Romania. Deutsche Telekom is the largest of its shareholders, holding 40 percent of shares in Greece's OTE Group. In 2012, COSMOTE Romania won the auction for the 25M 1800M and 10M 2600M LTE spectrums and planned to launch LTE services in the hope of better customer experience and competitiveness.
In 2010, ZTE successfully completed a UMTS (Universal Mobile Telecommunications System) project for COSMOTE Romania using ZTE's industry-leading SDR (software defined radio) technologies and network delivery capabilities. The previous cooperation on UMTS networks has laid a solid foundation for further work on LTE projects between COSMOTE and ZTE.
Xiong Hui, SVP of ZTE, said, "ZTE is very grateful that COSMOTE Romania once again selected us as a strategic partner. With our series of innovative solutions, led by Cloud Radio, ZTE is taking the lead in the development of LTE technologies. The LTE network of COSMOTE Romania will use the world's most advanced products and solutions to enhance the customer experience. We will employ ZTE's best resources to make the project a successful one."
As of the end of July 2014, ZTE has won 146 commercial LTE/EPC contracts around the world, covering 70 percent of the countries that have invested in LTE. ZTE is the world's fastest growing LTE vendor and in 2013, the company's share of the new LTE market was close to 20 percent. ZTE has successfully launched LTE networks for operators including China Mobile, China Telecom, Hutchison, Softbank, KPN, Telenor, TeliaSonera, Vodafone, VimpelCom, and Bharti.
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
William de la Bedoyere, +44 (0)20 8392 8074
KEYWORD: EUROPE ASIA PACIFIC NORTH AMERICA CANADA CHINA ROMANIA GREECE
INDUSTRY KEYWORD: TECHNOLOGY NETWORKS TELECOMMUNICATIONS MOBILE/WIRELESS
SOURCE: ZTE Corporation
Copyright Business Wire 2014
PUB: 08/25/2014 10:25 PM/DISC: 08/25/2014 10:25 PM