ZTE boosts investment in Brazil
By Zhu Shenshen |
July 13, 2011, Wednesday
|
Print Edition
Print Edition
ZTE Corp plans to invest "several hundred million" dollars in Brazil to make the region its biggest overseas manufacturing base for handsets and tablet computers, China's biggest listed telecommunications equipment maker said yesterday.
Shenzhen-listed ZTE - now the world's No. 5 handset vendor - also plans to double its mobile phone sales in Brazil this year to ride on the growing smartphone demand, said Wei Zheng, the firm's vice president for Brazil.
ZTE has invested US$50 million for plant construction in Brazil, and it plans to invest "several hundred million" in the country within the next 10 years.
"Brazil is one of our most important strategic markets, and it will become our No. 1 overseas manufacturing and research center," Wei said during an interview yesterday.
ZTE sees handset revenue of US$400 million in Brazil this year, against US$270 million in 2010. It expects to sell 6.5 million handsets in the market, double last year's level, Wei told Shanghai Daily.
Shenzhen-listed ZTE - now the world's No. 5 handset vendor - also plans to double its mobile phone sales in Brazil this year to ride on the growing smartphone demand, said Wei Zheng, the firm's vice president for Brazil.
ZTE has invested US$50 million for plant construction in Brazil, and it plans to invest "several hundred million" in the country within the next 10 years.
"Brazil is one of our most important strategic markets, and it will become our No. 1 overseas manufacturing and research center," Wei said during an interview yesterday.
ZTE sees handset revenue of US$400 million in Brazil this year, against US$270 million in 2010. It expects to sell 6.5 million handsets in the market, double last year's level, Wei told Shanghai Daily.
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