ZTE to spend $3 Billion over the next 3 years from 5 U.S. TechnologyVendors

ZTE to spend $3 Billion over the next 3 years from 5 U.S. Technology Vendors
ZTE has signed purchase agreements with five U.S. technology vendors at total value of 3 billion USD. Under these framework agreements, ZTE will purchase semiconductor components from QUALCOMM, Texas Instruments, Freescale Semiconductor, ALTERA and Broadcom over the next 3 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 USD $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.
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