Chinese Telecom Equipment Sellers Optimistic on the Development of European Market
ZTE Corp. a Shenzhen based telecommunications company ranks fifth in the world in terms of sales of telecom equipment is looking to increase its revenue by double digits in Europe on the next five years. in 2002, ZTE entered that European market and experiences a hard start and gained only a few contracts in the first few years, but sped up its expansion by 2008 once they secured mobile phone orders from top carriers such as Vodafone. ZTE was able to put out a fast annual growth in Europe as its annual revenue increased to one billion Euros in 2013 from the sales of telecom equipment that contributed 60 percent
Unlike in the Australia and the US which accused the Chinese telecom companies of not being reliable based on cyber security, but European countries has generally taken a open and cooperative stance toward these Chinese companies. Still Europe is full of rivals such as Ericsson and Nokia.
Although these competitions are already familiar with the local environment and have been present in the market for a very long time and is backed with a strong research and development capability. But these Chinese companies has their own advantages such as the consistency of delivering high quality equipment and services in a much more competitive price, thus creating more value for operators.