(Yicai Global) Feb. 18 -- ZTE's shares gained after the Chinese telecom equipment maker confirmed plans to showcase its first fifth-generation wireless technology handset at next week's Mobile World Congress 2019.
The stock [SHE:000063] closed 5 percent higher today at CNY24.14 (USD3.60), compared with an almost 4 percent advance in the benchmark Shenzhen Component Index.
The Shenzhen-based company had taken to social media earlier to announce it will unveil the 5G smartphone at the MWC, which runs from Feb. 25 to Feb. 28 in Barcelona, Spain. The handset is expected to go on sale in China and Europe in the first half of this year.
The product debut marks another breakthrough for ZTE after the company successfully made the world's first 5G phone call last month during a field trial with state-owned carrier China Mobile. South Korea's Samsung and LG Electronics, along with Japan's Sony are expected to unveil their new 5G-equipped handsets at the same event, while fellow Chinese telecom giant Huawei is slated to release its first 5G phone in the second half of the year.
ZTE will also display 5G customer-premises equipment at the MWC, industry news outlet Communications World Website reported. Its CPE boasts a top downlink speed of two gigabits per second, allowing up to 100 wireless devices to use one network at the same time.
The company will also release the newest additions of its Blade smartphones series, as well as Internet of Things and Internet of Vehicles products, as it looks to provide users with more intelligent services to suit their everyday lives.
Editor: William Clegg