ZTE
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.
For other uses, see ZTE (disambiguation).Formerly
Zhongxing Telecommunication Equipment Corporation
1985 (as Zhongxing Semiconductor Co., Ltd.)
Hou Weigui (Chinese: 侯為貴; pinyin: Hóu Wéiguì)
Worldwide
Mobile 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]
CN¥6.16 billion[5] (2022)
CN¥8.08 billion[5] (2022)
CN¥180.95 billion[5] (2022)
CN¥58.64 billion[6] (2022)
Zhongxingxin (20.29% in 2022); China Aerospace Science and Industry Corporation
74,811[5] (2022)
Nubia Technology (49.9%)
ZTEsoft
Zonergy
中兴通讯股份有限公司
中興通訊股份有限公司
China-Prosperity Communications Company Limited by Shares
Zhōngxìng tōngxùn gǔfèn yǒuxiàn gōngsī
Zhōngxìng tōngxùn gǔfèn yǒuxiàn gōngsī
Zung1hing3 tung1seun3 gu2fan6 jau6haan6 gung1si1
中兴通讯
中興通訊
China-Prosperity Communications
Zhōngxìng tōngxùn
Zhōngxìng tōngxùn
China-Prosperity [or the word itself: resurgence]
zhōngxīng
zhōngxīng
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]
Ownership
As of 30 June 2019, Zhongxing Xin (Chinese: 中興新; lit. 'Zhongxing New'; aka ZTE Holdings), an intermediate holding company, owned 27.40% stake of ZTE.[62][63] The shareholders of ZTE Holdings were Xi'an Microelectronics (Chinese: 西安微电子技术研究所; a subsidiary of the state-owned China Academy of Aerospace Electronics Technology) with 34%, Aerospace Guangyu (Chinese: 深圳航天广宇工业有限公司; a subsidiary of the state-owned China Aerospace Science and Industry Corporation Shenzhen Group) with 14.5%, Zhongxing WXT (Chinese: 深圳市中兴维先通设备有限公司; aka Zhongxing Weixiantong) with 49%, and a private equity fund Guoxing Ruike (Chinese: 國興睿科) with 2.5%.[64] The first two shareholders are state-owned enterprises, nominating 5 out 9 directors of ZTE Holdings, while Zhongxing WXT was owned by the founders of ZTE, including Hou Weigui, which Zhongxing WXT nominated the rest of the directors (4 out 9) of ZTE Holdings.[7]: 110–112
The mixed ownership model of ZTE was described as "a firm is an SOE from the standpoint of ownership, but a POE [privately owned enterprises] from the standpoint of management" by an article in The Georgetown Law Journal.[65] ZTE described itself as "state-owned and private-run".[66] The South China Morning Post and the Financial Times have both described ZTE as state-owned.[67][68] Other scholars have noted the links between ZTE's state-owned shareholders and the People's Liberation Army.[69]
Sponsorship
In May 2016, ZTE became the co-sponsor of German soccer term, Borussia Mönchengladbach.[99]
Since 2015, several U.S.-based National Basketball Association teams have had sponsorship deals with ZTE, including the Houston Rockets, Golden State Warriors, and New York Knicks.[100][101]
