Visitors try out smart phones at the ZTE's stand during the Mobile World Congress in Barcelona in 2016. The company has 3,000 employees engaged in 5G R&D. Photo: AFP

ZTE to devote 2 per cent of annual sales to develop world’s fastest 5G mobile networks

The largest-listed Chinese telecommunications equipment manufacturer will spend 2 billion yuan every year, equivalent to 2 per cent of annual sales, through 2020 to supply ultra-fast 5G networks to mobile operators around the world.

Topic |   ZTE

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Visitors try out smart phones at the ZTE's stand during the Mobile World Congress in Barcelona in 2016. The company has 3,000 employees engaged in 5G R&D. Photo: AFP
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Daniel Ren

Daniel Ren

Daniel Ren is the SCMP's Shanghai bureau chief. A Shanghai native, Daniel joined the SCMP in 2007 as a Business reporter.