China’s second biggest telecommunications equipment maker, ZTE Corp, stated that it will build a mobile network for the Norwegian company Telenor ASA’s Hungarian unit. This is the company’s latest entry in the competitive markets of Europe.  

The deal would give ZTE a chance to build a complete network for Telenor Hungary which will include second ,third and fourth generation technology which is also known as LTE as per the statement submitted by the company on Monday.  

ZTE has stated that under the deal the company will provide Telenor Hungary with core infrastructure and radio over the coming five years.  

According to Victor Yip, an analyst from UOB Kay Hian, ZTE is acquiring more and more of European contracts  

The value of the deal was not divulged by ZTE but as per the reports received from the Financial Times the value would be around two hundred million euros.  

The deal develops with ZTE emerging as a strong force in the developing markets. It now competes with European Majors like Nokia Siemens Networks, Ericsson and Alcatel Lucent SA and also with its rival Huawei Technologies, which is a company located in its hometown.    

Similar kind of networks has been build by ZTE in Montenegro and India for Telenor.  

The latest deal adds feather to the cap of ZTE and established the company with a strong footing in developing markets, as per the statement made by Wilson Chai, working as an analyst at Mirae Asset Securities  

He stated that if somebody is a newcomer in the market and is looking for building a network ZTE or Huawei are the best bet as they are economical and not as expensive as Nokia and Ericsson who charge an exorbitant amount.