Companies to work together to develop products and services for new markets

ZTE Corporation – China´s largest listed telecommunications company – and Portugal Telecom – the country´s national network operator – today signed a research and development Memorandum of Understanding (MoU)  to identify and bring to market a range of new products and services.

The MoU was signed, on behalf of ZTE, by the company Chairman, Mr. Hou Weigui, and the Director of ZTE´s Technology Centre, Mr Sun Zhenge. Portugal Telecom´s signatories were the Group CEO, Mr. Miguel Horta e Costa, and the CEO of Portugal Telecom Inovação, Mr. Paulo Nordeste. The ceremony took place during a visit to Shanghai by a Portugal Telecom delegation headed by Mr. Miguel Horta e Costa, which is visiting China at the same time as a State Visit of the Portuguese President, Mr. Jorge Sampaio.

In accordance with the terms of the MoU, both companies will be able to develop joint-teams for international tenders for supplying telecommunications technology and services all over the world.

Mr. Miguel Horta e Costa said, "The Chinese telecommunications market, which Portugal Telecom has been operating in for a long time (Portugal Telecom is one of the shareholders of CTM, in Macau), is growing very fast and will provide very good opportunities in the future.

"As a global operator, we can say that the Chinese market is a very big challenge for Portugal Telecom Group," he added, pointing out that in Timor Lorosae, Portugal Telecom and ZTE Corporation already had a very successful ongoing technology cooperation with the local mobile operator.

The Chief Executive Officer of Portugal Telecom stressed that the MoU signed in Shanghai provided the framework that would allow technology and services developed by Portugal Telecom Inovação to be exported to China.

For ZTE Corporation, the MoU will allow the company to access markets where Portugal Telecom is operating and for a path to be connected with some of the Portuguese company´s partners in international R&D projects in Europe.

"As China´s largest listed telecommunications manufacturer, we are very proud to become an important partner of Portugal Telecom," said ZTE Corporation chairman Mr. Hou Weigui.

"This success, coming so soon after our listing on the Hong Kong Stock Exchange, will definitely boost our developments in international markets, especially in Portuguese-speaking countries."

ZTE Corporation is China´s largest listed telecommunications equipment provider specializing in offering customized network solutions for telecom carriers worldwide. The company develops and manufactures telecommunications equipment for fixed, mobile, data and optical networks, intelligent networks and next generation networks as well as mobile phones.

Listed in New York Stock Exchange (NYSE), Portugal Telecom is also one of the largest listed company in the Portuguese Market, with operations in all five continents. In Portugal, PT Group is a universal operator with a 100% digital network.