ZTE could invest $7.5 billion in 4G
25 March 2013 | Mitch Sayers
Chinese vendor ZTE has turned its attention back to the Chinese market with plans to lead 4G spending in 2013, according to reports.
ZTE is looking back to China to try and capture the burgeoning 4G market and has targeted smartphone users to drive at least $7.5 billion 4G network projects.
The company had been focused on overseas investments but changed its outlook due to the Chinese market offering substantial rewards.
"The China market is like a gold mine as telecom operators are cash-rich," David Dai Shu, a spokesman for ZTE, told Reuters.
"It is a top priority for us by country."
China’s three mobile operators are expected to spend $56 billion on network expansion during 2013 – which includes investment in 4G.
ZTE is likely to post its first-ever annual loss for 2012 but is thought to be in line for a bulk of the contracts which the Chinese government are set to hand out later this year.
China Mobile announced intentions to invest up to $30.6 billion in LTE after the government confirmed it will finally rollout 4G licences later this year.