ZTE

ZTE Corporation
FormerlyZhongxing Telecommunication Equipment Corporation
Company typePublic; state-owned enterprise
SZSE: 000063
SEHK763
ISIN
IndustryTelecommunications equipment
Networking equipment
Founded1985; 39 years ago (1985) (as Zhongxing Semiconductor Co., Ltd.)
FounderHou Weigui
Headquarters55 Hi-tech Road South
Shenzhen, Guangdong, China
518057
Area served
Worldwide
Key people
Li Zixue (Chairman and Executive Director)[1]
Xu Ziyang (Executive Director and CEO)[2]
ProductsMobile phones, smartphones, tablet computers, hardware, software, all series of wireless, wireline, services, devices and professional telecommunications services and services to telecommunications service providers and enterprises[3]
RevenueIncrease CN¥122.95 billion / US $17.68 billion[4] (2022)
Increase CN¥6.16  billion[5] (2022)
Increase CN¥8.08 billion[5] (2022)
Total assetsIncrease CN¥180.95 billion[5] (2022)
Total equityIncrease CN¥58.64 billion[6] (2022)
OwnerZhongxingxin (20.29% in 2022); China Aerospace Science and Industry Corporation
Number of employees
74,811[5] (2022)
SubsidiariesNubia Technology (49.9%)
ZTEsoft
Zonergy
Websitewww.zte.com.cn Edit this at Wikidata
Footnotes / references
In consolidated financial statement;[7] shareholders' equity figure are excluding perpetual capital instrument
ZTE Corporation
Simplified Chinese中兴通讯股份有限公司
Traditional Chinese中興通訊股份有限公司
Literal meaningChina-Prosperity Communications Company Limited by Shares
Transcriptions
Standard Mandarin
Hanyu PinyinZhōngxìng tōngxùn gǔfèn yǒuxiàn gōngsī
Yue: Cantonese
JyutpingZung1hing3 tung1seun3 gu2fan6 jau6haan6 gung1si1
Alternative Chinese name
Simplified Chinese中兴通讯
Traditional Chinese中興通訊
Literal meaningChina-Prosperity Communications
Transcriptions
Standard Mandarin
Hanyu PinyinZhōngxìng tōngxùn
Second alternative Chinese name
Simplified Chinese中兴
Traditional Chinese中興
Literal meaningChina-Prosperity [or the word itself: resurgence]
Transcriptions
Standard Mandarin
Hanyu Pinyinzhōngxīng

ZTE Corporation is a Chinese partially state-owned technology company that specializes in telecommunication. Founded in 1985, ZTE is listed on both the Hong Kong and Shenzhen Stock Exchanges.

ZTE's core business is wireless, exchange, optical transmission, data telecommunications gear, telecommunications software, and mobile phones. ZTE primarily sells products under its own name, but it is also an OEM.[8]

The company has faced criticism in the United States, India, and Sweden over ties to the Chinese government that could enable mass surveillance. In 2017, ZTE was fined for illegally exporting U.S. technology to Iran and North Korea in violations of economic sanctions.[9] In April 2018, after the company failed to properly reprimand the employees involved, the U.S. Department of Commerce banned U.S. companies (semiconductors) from exporting to ZTE for seven years. The ban was lifted in July 2018 after ZTE replaced its senior management, and agreed to pay additional fines and establish an internal compliance team for 10 years.[10][11] In June 2020, the Federal Communications Commission (FCC) designated ZTE a national security threat.[12][13][14][15] In 2023, the European Commission banned ZTE from providing telecommunication services.[16]

  1. ^ "Li Zixue". www.zte.com.cn. Retrieved 13 October 2023.
  2. ^ "Xu Ziyang". www.zte.com.cn. Retrieved 13 October 2023.
  3. ^ "Company Introduction". www.zte.com.cn. Retrieved 13 October 2023.
  4. ^ Tomás, Juan Pedro (10 March 2023). "ZTE's 2022 revenues up 7.4% year-on-year". RCR Wireless News. Archived from the original on 12 November 2023. Retrieved 13 October 2023.
  5. ^ a b c d "ZTE - Annual Report 2022" (PDF). www.zte.com.cn. Archived (PDF) from the original on 13 October 2023. Retrieved 14 October 2023.
  6. ^ "2023 Interim Result Announcement" (PDF). www.zte.com.cn. Archived (PDF) from the original on 4 October 2023. Retrieved 14 October 2023.
  7. ^ Annual Report 2017 (PDF) (Report). ZTE. 26 March 2018. Archived from the original (PDF) on 9 April 2018. Retrieved 8 April 2018.
  8. ^ Mukherjee, Supantha (26 January 2011). "UPDATE 3-LSI sees second half better than first". Reuters. Bangalore. Archived from the original on 17 November 2015.
  9. ^ Freifeld, Karen; Sijia, Jiang (8 March 2017). "China's ZTE pleads guilty, settles U.S. sanctions case for nearly $900 million". Reuters. New York / Hong Kong. Archived from the original on 26 February 2020. Retrieved 11 July 2020.
  10. ^ Cite error: The named reference :4 was invoked but never defined (see the help page).
  11. ^ Cite error: The named reference :5 was invoked but never defined (see the help page).
  12. ^ McCabe, David (30 June 2020). "F.C.C. Designates Huawei and ZTE as National Security Threats". The New York Times. ISSN 0362-4331. Archived from the original on 2 July 2020. Retrieved 2 July 2020.
  13. ^ Shields, Todd (30 June 2020). "FCC Calls Huawei, ZTE Security Threats as It Bars Subsidies". Bloomberg News. Archived from the original on 2 July 2020. Retrieved 11 July 2020.
  14. ^ Rapoza, Kenneth (30 June 2020). "The FCC Just Designated China's Huawei And ZTE A Security Threat". Forbes. Archived from the original on 14 July 2020. Retrieved 14 July 2020.
  15. ^ Shepardson, David (9 July 2020). "Exclusive: U.S. finalizing federal contract ban for companies that use Huawei, others". Reuters. Washington. Archived from the original on 15 July 2020. Retrieved 4 August 2020.
  16. ^ Chee, Foo Yun (15 June 2023). "Breton urges more EU countries to ban Huawei, ZTE from networks". Reuters. Archived from the original on 16 June 2023. Retrieved 17 June 2023.