ZTE's 5G smartphones to hit market next month
ZTE Corp’s 5G smartphones have been used in 20 countries and regions, making it a “5G pioneer,” the Shenzhen-listed firm said on Wednesday.
In China, which is set to become the world's biggest 5G market, ZTE plans to kick off 5G models as early as next month after it gets the necessary approval. Meanwhile, it also continues to develop the overseas markets like North America, Asia Pacific and Russia, said Luo Wei, ZTE's vice president, at the Mobile World Congress Shanghai 2019.
“We have a healthy business line covering wireless base stations, smartphones and various 5G applications with partners,” said Luo.
About 40 percent of 5G phones will be sold by mobile operators in the initial stage. Firms with both equipment and smartphone business, including ZTE, will benefit from the 5G wave, Luo added.
Shenzhen-listed ZTE has obtained 25 commercial 5G contracts globally. Facing a robust demand for 5G technology, the company has actively explored scenarios of 5G application in different industries.
ZTE, along with its partners, has developed about 200 5G applications, covering AR or augmented reality, VR or virtual reality, education and health-care sectors, Luo added.
ZTE has returned to normal business operation after a US sanction in 2018.
In 2018, the US banned ZTE from producing certain tech components for several months and fined the company US$1 billion.
In the smartphone market segment, ZTE plans to target overseas markets including North America, Europe and Russia. It invests 12 percent of its annual revenue on research and development. Its revenue reached 10.9 billion yuan (US$1.62 billion) in 2018.
The telecom firm has set up research centers on mobile phone design in Shanghai, Chengdu and Xi’an, which delivers on wireless charging, antenna design and dual or foldable screen.
In the 5G sector, ZTE ranks No. 3 in the world, Luo added.