ZTE Denies Smartphone Sale Rumors Hinting at ByteDance Involvement · TechNode
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4 Articles
ZTE denies smartphone sale rumors hinting at ByteDance involvement · TechNode
ZTE has denied reports that it plans to transfer its smartphone business into a joint venture with a major internet company and local state-owned investors, amid online speculation identifying ByteDance as the potential partner. ZTE told The Paper on November 3 that the reports were seriously inconsistent with the facts and said it reserved the […]
On 3 November, Chinese media reported plans to transfer the smartphone unit to a joint venture with a large Internet company and government investors from Shanghai, which estimated that the business was estimated at about 40 billion Yuan (about $6 billion), and... The post ZTE denied the sale of the smartphone business and threatened the media with legal action on SE7EN.
ZTE rejects the information about the transfer of the smartphone business to a mixed company valued at about 40 billion yuan, although the Chinese press reported about a possible reorganization.
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