Yota Devices and ZTE sign agreement for moving YotaPhone production to China
MOSCOW, September 15. /TASS/. Yota Devices and Chinese manufacturer of mobile electronics ZTE signed a cooperation agreement, according to which the next generation of YotaPhone will be produced by the Chinese corporation, Yota Devices said Tuesday. Earlier YotaPhone smartphones were produced at Hi-P factory in Singapore.
"The partnership involves the production of new generation of YotaPhone smartphones, as well as the development and integration of mobile services and software," the company’s report said. At the same time the special edition of YotaPhone will be assembled in Russia.
"We also decided to choose the Russian product for the presentation and launch of our mobile applications," ZTE Health Technology President He Shiyou said.
YotaPhone 3 will be available in the Q1 of 2016, but the exact date has not been announced yet, the company said. Yota Devices did not disclose the contract sum. The first delivery batch may reach 100,000 units.
According to the company, moving production will reduce the cost of YotaPhone by more than 30%, which amounted to almost 40,000 rubles at the end of last year.
Yota Devices was founded in 2011. It produces modems, routers and YotaPhone smartphones. The company's headquarters are located in Moscow, while its offices are throughout Russia, in Finland, Germany and Singapore, with new offices under way in Canada, China and the United States. Company financial results have not been disclosed. In December 2014, Yota Devices introduced YotaPhone2. At the end of last year, the devices were sold in Russia and 20 countries in Europe, the Middle East and Asia.