Global EditionASIA 中文双语Français
Business
Home / Business / Technology

ZTE invests over $3b on 5G products

Xinhua | Updated: 2018-03-20 21:12
Share
Share - WeChat

NANJING - Chinese telecommunications company ZTE has invested 20 billion yuan ($3.16 billion) on a 5G product base in Nanjing, in East China's Jiangsu province.

The center will focus on developing 5G products and wireless devices, the company said Tuesday.

"5G technology will be hundreds times faster 4G," said Pang Shengqing, executive vice president of ZTE, "It is the future of the mobile communication industry."

ZTE has over 20 partners working on 5G technology across the world, Pang added.

"The project is expected to generate production value of 40 billion yuan after it being put into operation in 2022," said Pang.

ZTE is a leading global provider of telecommunications equipment, networking solutions and one of the world's fastest growing smartphone manufacturers. It unveiled the world's first 5G smartphone in Barcelona last year.

China is expected to be the world's largest 5G market by 2025, according to GSMA Intelligence, a global mobile think tank

The China Academy of Information and Communications Technology has predicted that 5G will drive 6.3 trillion yuan of economic output in China by 2030.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE