(Yicai Global) Feb 7 -- Chinese telecoms equipment maker ZTE Corp. plans to splurge an additional CNY47 billion (USD7.5 billion) on 5G research and development over the coming years as the country readies to commercialize the new-gen network, which the company splashed CNY12 billion on in 2017.
The Shenzhen-based firm will unveil its first full-screen mobile phone, the Blade V9, and an experiential headset with near-5G speeds at the upcoming Mobile World Congress in Barcelona this month, Fan Xiaobing, senior vice president, said at press briefing in Beijing yesterday. The company hopes to release its first official 5G handset later this year or in early 2019.
Key segments in China's 5G industry chain will enter a phase of pre-commercialization by the end of this year, the Ministry of Industry and Information Technology said last month. The nation hopes to roll out large-scale testing and full commercialization by 2020.
ZTE plans to raise up to CNY13 billion through a private share placement in order to develop 5G technologies and products, it said late last month. The company partnered two Italian mobile operators, Wind Tre SpA and Enel OpEn Fiber SpA, last year to partake in the construction of Europe's first pre-commercial 5G network.