ZTE in Cooperation Talks with Motorola
Netease Tech, 2/15/08
Xiong Hui, vice president of marketing for ZTE's (0763.HK; 000063.SZ) handset division has revealed that ZTE is currently in talks with Motorola regarding deepening the relationship between the two companies, however he declined to comment on whether or not ZTE was considering purchasing Motorola's mobile phone division.
Analysts estimate Motorola's mobile phone division to be worth between US 9 bln and US 12 bln, and although Xiong refused to comment on a possible merger he did say that ZTE had strong financials, and was able to raise money if needed.
Xiong mentioned that this year, ZTE planned to increase sales of mobile devices such as mobile phones, and wireless data cards to 50 mln units, compared to 30 mln units in 2007. He also stated that the company plans to introduce more high-end mobile phones and develop its own brand, rather than performing contract manufacturing for others.
Keywords: Xiong Hui M&A sales volume strategy 000063.SZ 0763.HK mobile phone Motorola wireless ZTE
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