Uzbek-Chinese JV starts smartphone production

Uzbekistan, Tashkent, July 5 / Trend D. Azizov / The PENGZHONG XINGSHENG joint venture established with the participation of the Chinese ZTE (HK) Ltd., began producing mobile phones worth $3.16 million. ZTE Corporation Vice President Zhang Renjun said at the opening ceremony on Wednesday that mobile phones presented by UzTE included three smartphone models at the Dual Core - Grand V, Grand M and Grand X platform will be produced at the enterprise in Hakikat in the Syrdarya region. Currently, the design production capacity hits 300 million phones per year. By 2016, the capacity will increase to 500,000 per year. PENGZHONG XINGSHENG's smartphones will be sold from late July. The estimated cost of the phone will likely be 350,000 - 650,000 soums, depending on the model with a one year warranty. About 10 per cent of the production will be exported, mainly to Kazakhstan and Tajikistan, a ZTE representative said. The range will be expanded. The PENGZHONG XINGSHENG joint venture was established on the equal terms of the Chinese ZTE and Uzbek-Chinese PENG SHENG joint venture. This has an authorised capital of $3 million and was established in early 2010 by the Chinese Wenzhou Jinsheng Trade Co., Ltd and the Uzbek Sinlong company on equal terms in the Syrdarya region (central part of Uzbekistan). The joint venture is specialising in building material production, leather and footwear products. Do you have any feedback? Contact our journalist at agency@trend.az