Sunday, October 24, 2010

ZTE Purchases $3 Billion from U.S. Silicon Vendors

ZTE signed purchase agreements valued at a total of US$3 billion over the next three years with five U.S. silicon vendors: QUALCOMM, Texas Instruments, Freescale Semiconductor, ALTERA and Broadcom.

In the past, ZTE noted that it has paid over US$4 billion to U.S. vendors for intellectual property and hardware products.

"As a publicly traded and transparent company with more than 18.72% 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 Mr. 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."

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