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| Huawei, ZTE strike big deals with US firms |
| Press Trust of India / Beijing Feb 22, 2012, 18:39 IST |
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Chinese telecom majors -- Huawei and ZTE -- have signed big purchase deals with US firms and thus making inroads into the high-tech American market which had remained elusive for them so far due to security and IPR concerns.
Huawei has signed purchase agreements with Qualcomn, Broadcom, Avago and other firms to buy parts and components worth $6 billion within a three-year period.
The Original Equipment Manufacturer (OEM) contracts with Qualcomm, Broadcom and Avago, three California-based leading communications technology companies, was expected to revive hundreds of jobs in the US.
Huawei has 13 regional offices located US besides seven advanced R&D centres.
It employs over 1,700 professionals and support staff, among them more than 1,300 are hired locally in the US.
ZTE, has signed an MOU on Procurement worth $5 billion with two US firms, state-run Beijing Times reported.
ZTE has signed up agreements to buy chips with Qualcomn and Broadcom.
The agreements coincide with the high profile visit of Chinese Vice President, Xie Jinping to US.
Xie is widely expected to succeed President Hu Jintao next year.
So far the US high tech markets were kept aloof from Chinese companies due to security as well as IPR concerns.
China has been persuading US to loosen the grip on high tech imports in order to boost US economy as well as its exports, which in turn would revive job market.
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