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ZTE appoints new chairman as it shifts to AI strategy
ZTE Corp, a leading Chinese telecommunications equipment manufacturer, has appointed Fang Rong as its new chairman.
Fang succeeds Li Zixue and will work alongside CEO Xu Ziyang in managing the company.
The appointment comes as ZTE shifts its focus toward AI to address declining revenue in its core carrier network business.
Fang emphasized that ZTE is transforming into a “connectivity plus computing” enterprise to adapt to AI-driven industrial changes. The company aims to improve its performance by 2025.
Following the announcement, ZTE’s stock prices saw slight gains, with shares in Hong Kong rising by 1.89% and those in Shenzhen closing at 34.44 yuan (US$4.74).
Recent ZTE developments
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18-Nov-2024 🎓 ZTE boosts digital skills for Malaysian government officers
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02-Dec-2019 🕵️♂️ Chinese tech firms are shaping UN facial recognition standards, documents show
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