China plans to spend $165 billion on 5G, according to Xu Ziyang CEO of switchgear vendor ZTE.
That amount would be 50% more than China spent on 4G, said Xu.ZTE estimates the Q2 RAN market at $9.4 billion and said that ZTE had a 30% share of it.
According to Xu, 690,000 5G sites in 350 cities had been set up by the end of September.
ZTE had revenues of $7 billion in the first half of the year which was 5.8% up on the first half of 2019, for a profit of $2.7 billion which was up 26.3% y-o-y.
The company has signed 55 commercial 5G contracts, said Xu, and is working with 90 telcos.
Like other network infrastructure vendors, ZTE is looking for vertical partnerships with end-users as well as telco contracts.
Xu said that ZTE had 500 vertical partners in areas including: tourism, healthcare, education, transport, energy, manufacturing and environmental protection.
source: electronicweekly
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