What is ZTE?

ZTE is a major Chinese telecommunications equipment maker based in Shenzhen, Guangdong Province. Founded in 1985, ZTE was originally a state-owned company, under the Shenzhen municipal government. It listed on the Shenzhen Stock Exchange in 1997 and on the Hong Kong Exchanges and Clearing in 2004. As of the end of March 2015, Zhongxingxin, a state-owned entity, is the company’s largest shareholder, owning some 30% of the company. The firm has been trying to establish itself as a maker of aspirational devices for many years. Like its close rival Huawei, ZTE made a big push in 2011 with premium devices like the Skate, but these efforts fizzled out. Still, ZTE is expected to ship 60 million smartphones in 2015, up from 48 million units. Founder and Chairman Hou Weigui handed over control of ZTE to Executive Director, Shi Lirong who has been President since 2010. The spread of 4G, or fourth-generation, mobile phone services has boosted large-scale investment for telecommunications facilities, providing a tailwind for the company.

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