China based Telecom infrastructure gear manufacturer and wireless solution provider ZTE has officially got hold of a $400 million contract from Aircel for expanding the latter’s GSM coverage in India. There were rumors earlier this week that Aircel, which is 74% owned by Malaysian based Maxis is considering a tie up with African telecom giant MTN.
As for ZTE, they consider India as the biggest telecom market after China. Along with this joint venture, they are also planning to launch their own handset brand by this year-end and are targeting 20% of their global handset sales form India.