ZTE Chief Strategy Officer Wang Xiang: ZTE Leads in 5G Innovations and Expects to Achieve Win-Win Scenarios with Its Partners
ZTE Chief Strategy Officer
19 February 2019, Shenzhen, China - ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, expects to achieve win-win scenarios with its partners backed up with its leadership in 5G innovations, according to Mr. Wang Xiang, the Chief Strategy Officer at ZTE.
As a primary need of humankind, communication drives sustainable development of the ICT industry. The ICT industry evolves towards three basic trends. First of all, it will continue to undertake the mission of social connection and coordination. The extending social connection boosts man-to-man, man-to-machine, and machine-to-machine connectivity and extensive collaboration. It steadily enhances the productivity and raises the quality of people’s life as well. In addition, the basic trend for sustained growth of information consumption and data traffic remains unchanged. Innovative services with ultra-high throughput, such as VR/AR with tremendous requirements on bandwidth and IoT with massive objects and scenarios of connectivity, will enable the rapid growth of information consumption and data traffic. Finally, the basic physical laws including Shannon’s Law and Moore’s Law will still guide the ICT industry to evolve along a clearly defined path and at a certain pace.
In the development tide of the ICT industry, the continuous upgrades and iterations of mobile communication technology have become one of the dominant development forces. 1G opened the era of mobile voice communication while 2G made the mobile voice application popular. 3G enabled the era of mobile data and video while 4G helps popularize the use of the mobile Internet. 5G is now ushering in an intelligent era of full connectivity in eMBB, mMTC, and URLLC scenarios. It facilitates various vertical industry application innovations, empowers and accelerates the digital transformation of society and different vertical industries. This will bring about a steadily explosive growth of mobile data traffic estimated at up to 10 times within five years.
The golden window for 5G investment is to open accordingly, which will speed up the investment rebound in the telecoms industry. According to IHS, 5G is estimated to create a direct economic output of up to $3,500 billion globally, and boost the total growth of about $12,000 billion of indirect economic output during the period from 2020 to 2035. 5G will bring new development potential and opportunities for the ICT industry.
To grasp the development opportunities of the 5G era, ZTE sticks to the philosophy of focus and innovation, and implements the strategy according to the basic principles: focusing on the operator market, improving customer satisfaction, adhering to technological leadership, increasing market share, and strengthening the governance in talent, compliance and internal control. ZTE focuses on and strengthens the operator market and is committed to improving customer satisfaction and achieving further growth under the premise of mutual benefit and compliance. ZTE upholds and consolidates technological leadership, as well as centers on the mainstream 5G industry, and increases the investment in the fields of chipsets and basic technologies to highlight the leadership in the core competitiveness of products.
Meanwhile, ZTE considers security of product R&D and service delivery as one of the top priorities to build a world-class product security governance system and provide customers with end-to-end security. ZTE carries on with the globalization strategy, and seizes the golden market windows of 5G to continuously increase market share. ZTE maintains the strategy in mobile device business, and will further focus on the core product series, to enhance the product competitiveness and customers’ experiences. ZTE will grasp the opportunities for launching 5G mobile devices to lay a foundation for sustainable development. ZTE reinforces business focus in the enterprise area, strengthens the operation of core products in the major industrial fields, explores innovative applications of 5G, and builds a win-win ecosystem with our partners to develop new business growth points.
Concerning corporate governance, ZTE will continue to strengthen the three fundamentals: Talent, Compliance, and Internal Control. It attracts the top talent from various industries to motivate the co-development of both employees and the company with innovative incentives and talent development modes. ZTE strengthens compliance management and the construction of compliance processes and is committed to be a world-class international company in compliance. ZTE also reinforces the internal control governance, and further optimizes its governance structure to prevent risks.
5G is coming with both opportunities and challenges. ZTE upholds the mission to connect the world with continuous innovation for a better future,and takes technology as the guide to lead 5G innovations. ZTE centers on customers to deepen open collaboration and coordination with its customers and partners to accelerate 5G development with the drive of the partner ecosystem for a win-win in the 5G era.