Chinese telecommunication equipment manufacturer ZTE to open branch office in Montenegro

Chinese manufacturer of telecommunication equipment and Internet provider ZTE will open its branch office in Montenegro.

The new company will be opened on the basis of the business agreement that was signed today (September 21, 2009) by the representatives of company "Promonte", which is owned by Norwegian "Telenor", and ZTE.

The partnership between the two companies will enable introduction of new telecommunication services for the "Promonte" subscribers in Montenegro.

- We will offer new mobile networks for the future - said Kenneth Fredriksen, the General Manager for the global business unit of "Telenor" in ZTE.

Company ZTE is one of the largest Chinese manufacturers in that sector, it is recognizable in the global market, and it exports its products into more than 140 countries. This company spends about 10% of its annual turnover on research and development.

The representatives of mobile operator "Promonte" and ZTE did not specify the financial value of the contract that was signed today.

"Promonte" has the market share of about 40% in Montenegro, and its competitors are Deutsche Telekom and Telekom Serbia.