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ZTE To Buy At Least US$5 Billion Worth Of Chipsets From Qualcomm, Broadcom

HONG KONG -(Dow Jones)- ZTE Corp. (ZTCOY, 000063.SZ, 0763.HK) has agreed to buy at least US$5 billion worth of chipsets from U.S.-based Qualcomm Inc. (QCOM) and Broadcom Corp. (BRCM) over the next few years, China's second-largest telecom equipment maker said Monday. ZTE has signed a framework agreement to buy at least US$4 billion worth of chipsets from Qualcomm, which makes chipsets and other technology used in wireless phones, between 2012 and 2015. It also agreed to buy at least US$1 billion worth of chipsets from California-based Broadcom over between 2012 and 2014, the Hong Kong and Shenzhen-listed equipment maker said in a statement. -By Joanne Chiu, Dow Jones Newswires; 852-2802-7002; joanne.chiu@dowjones.com

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