ZTE Grand Memo Handset to Be First 4G Smartphone Sold in China
ZTE Corp. (000063), the world’s fifth-largest smartphone maker, said it was the first company to receive regulatory approval in China to sell a handset for fourth-generation network service.
The company’s Grand Memo handset was approved by China’s Ministry of Industry and Information Technology to run on the 4G TD-LTE network standard, Shenzhen-based ZTE said in an e-mailed statement today. The statement didn’t say when the device, which runs Nvidia Corp. (NVDA)’s Tegra3 processor, will go on sale.
China Mobile Ltd. (941), the world’s largest phone company by users, is conducting a trial of 4G service this year that will reach 100 cities covering a population of 500 million people, the carrier said in February. China Mobile plans to buy 1 million smartphones and data cards for the trial from companies including ZTE, it said at the time. Licenses for commercial service are anticipated by the end of this year, the carrier said in March.
The top five global smartphone vendors in the second quarter according to a ranking by International Data Corp. are: Samsung Electronics Co. (005930) with 30.4 percent; Apple Inc. (AAPL) with 13.1 percent; LG Electronics Inc. (066570) with 5.1 percent; Lenovo Group Ltd. with 4.7 percent and ZTE with 4.2 percent.
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