Northern, WI 6/27/12 (StreetBeat) -- Zoom Technologies, Inc. (Nasdaq:ZOOM), a leading China-based manufacturer of mobile phones and other mobile electronic products, today announced that the company has signed an agreement with Viettel Mobile of Vietnam for original design and manufacturing (ODM) of mobile phones, and for Zoom to provide technical support to Viettel to set up its first R&D center and manufacture facility for mobile phones in Vietnam. The agreement includes Viettel placing an initial order of 400,000 units of ODM phones.
Headquartered in Hanoi, Viettel is the largest mobile operator in Vietnam capturing over 40% of the local market. Viettel is also among of the fastest growing telecom operators in the world with annual revenues doubling for each of five consecutive years from 2005 to 2010. Viettel currently has operations in six markets in Asia, Latin America and Africa, covering a total population of nearly 170 million people. In 2011, Viettel's revenue reached US$ 6 billion with 60 million subscribers worldwide.
Engineering teams from Zoom and Viettel will be working closely to design and manufacture the right handsets for the Vietnamese market and beyond. Eventually, the phones will be manufactured locally while Zoom is looking forward to continuing to supply more advanced products such as the Android-based smart phones for Viettel's markets. The initial order of 400,000 units will be designed and manufactured by Zoom using the Spreadtrum 6620 chip set, and delivery is expected to begin in July 2012.
About Zoom Technologies, Inc.
Zoom Technologies is a holding Company with subsidiaries that engage in the manufacturing, research and development, and sale of electronic and telecommunication products for the latest generation mobile phones, wireless communication circuitry and related software products. Zoom Technologies' subsidiary, Jiangsu Leimone, owns a majority stake of TCB Digital, which offers highly customized and high quality electronic manufacturing service for original equipment manufacturer customers as well as manufacturing its own brand of products under the ZOOM, LEIMONE and LONGTEL brand names. The Company's products are both exported globally and sold domestically in People's Republic of China.
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