ZTE spends $3 bn on technology

DALLAS, US: ZTE Corporation signed purchase agreements with five U.S. technology vendors at total value of $three billion.

Under these framework agreements, ZTE will purchase semiconductor components from QUALCOMM Incorporated, Texas Instruments Incorporated, Freescale Semiconductor, ALTERA Corporation and Broadcom Corporation over the next three years.

Developing close ties with U.S. chip vendors has allowed ZTE to develop highly competitive telecom solutions while reducing the time to market of its products. In the past, ZTE has paid over $four billion to U.S. vendors for intellectual property and hardware products, said a press release.

“As a publicly traded and transparent company with more than 18.72 per cent equity owned by European and American investors, we believe it is very important for ZTE to cooperate with U.S. partners and continue to increase our investment in the U.S. market,” said Ye Weimin, Senior Vice President of ZTE Corporation. “We are keen to deepen our relationships with both U.S. suppliers and telecom carriers in order to meet the needs of our U.S. customers and provide highly secure and innovative products and solutions. It’s an exciting time for ZTE and we are very optimistic about what can come from today’s signed agreements.”