On the evening of November 3, market news broke that ZTE is discussing a mobile phone business cooperation with a major Internet manufacturer. The plan involves packaging ZTE's mobile phone business and setting up a joint venture between ZTE, the Internet giant, and Shanghai state-owned enterprises. An employee of the relevant company said that at present, the major Internet company plans to invest about 8 billion yuan, while ZTE hopes to proceed according to a business valuation of about 40 billion yuan. The final valuation, shareholding ratio, and transaction method discussed between the two parties are still in the communication stage. The Observer Network sought evidence from ZTE about the news, and the other party said it was “untrue.”

On the evening of November 3, market news broke that ZTE is discussing a mobile phone business cooperation with a major Internet manufacturer. The plan involves packaging ZTE's mobile phone business and setting up a joint venture between ZTE, the Internet giant, and Shanghai state-owned enterprises. An employee of the relevant company said that at present, the major Internet company plans to invest about 8 billion yuan, while ZTE hopes to proceed according to a business valuation of about 40 billion yuan. The final valuation, shareholding ratio, and transaction method discussed between the two parties are still in the communication stage. The Observer Network sought evidence from ZTE about the news, and the other party said it was “untrue.”