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China's ZTE Corp launches CDMA equipment and handset plant in India
China's ZTE Corp (SZA 000063; HK 0763), one of the country's largest telecommunication equipment makers, said it has opened a wholly-owned factory in India to produce handsets and telecom equipment based on the Code Division Multiple Access (CDMA) network.
"The facility in India will strengthen ZTE's competitiveness in the country with more localized services and lower costs on production and network construction," said Zhang Renjun, general manager of ZTE's south Asia division, in a company statement.
Besides CDMA equipment and handsets, ZTE's Indian factory, located in the northern state of Haryana, will also produce Global System for Mobile Communications, Digital Subscriber Line, and Next Generation Network equipment and handsets, the company added.
No further details were provided.
India's mobile phone subscriber base, one of the fastest growing in the world, more than doubled last year to 45 mln from 21.99 a year earlier, according to figures from the Telecom Regulatory Authority of India.
Huawei Technologies Co Ltd, ZTE Corp's largest domestic rival, has a research and development center in India.
At 11:20 am Beijing time, ZTE Corp's A-shares were trading at 31.18 yuan in Shenzhen, up 0.06 pct, or 0.02 yuan.
The firm's shares in Hong Kong were 25.95, down 0.19 pct, or 0.05 hkd.
BIZ/FINANCE ARTICLES
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