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ZTE Corp. had won a deal from France Telecom SA to become one of its global Asymmetric Digital Subscriber Line (ADSL) equipment suppliers, the Chinese telecom equipment producer said.
"We believe this is a win-win relationship because we can provide our first-class and cost-effective solutions to France Telecom worldwide. We hope to be able to build on this relationship and increase our presence in the European market," said Ying Yimin, ZTE's president.
The announcement follows a strategic partnership agreement between France Telecom and China Telecom, under which the two companies have launched a joint call for purchasing ADSL products. ZTE has signed contracts with both operators.
This is the latest major success announced by ZTE and follows a Memorandum of Understanding with Portugal Telecom and research and development cooperation with Intel, both of which was announced last month. The France Telecom contract is a further achievement for ZTE's ADSL products, which provided vital communications at last year's Olympic Games in Athens.
"Last year, about 40 percent of our revenue was attributable to international sales, representing a year-on-year increase of 169.5 percent. This year we will continue our globalization strategy and introduce more of our products and services to international markets," Ying added, without providing further details.
The Shenzhen-based company expects a 50 percent rise in its 2004 profit to around 960 million yuan (US$120 million) from 638.65 million yuan.
ZTE, which made its debut on the Hong Kong Stock Exchange main board in December, is due to release its 2004 earnings report on April 12.
(Shenzhen Daily March 15, 2005)
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