ZTE Takes On Partner to Fund Nubia Business
ZTE today said Suning Rundong has invested $297 million in Nubia Technology. Suning sells electronic goods online in ZTE's home market of China. ZTE first introduced Nubia as a sub-brand three years ago. With this capital investment from Suning, ZTE will control 60% of Nubia, Suning will control 33.33%, and Yingcai Investment will manage 6.67%. ZTE said accepting the additional funding is necessary to help push the Nubia brand into new markets, including Latin America, Europe, and Southeast Asia. Some Nubia handsets are already available in the U.S.
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