Chinese telecom equipment vendor ZTE Corp has won a €1 bn (about $1.33 billion) managed services contract from the Netherlands-based Royal KPN. N.V.
Under the five-year contract, ZTE will deploy 2G, 3G and 4G services to KPN's operations in Germany.
The Chinese company has bagged the contract through its wholly owned subsidiary ZTE Gmbh, multiple sources close to the development told
The company has already started working on the contract, while an official announcement is expected to be made soon, one of the sources said. The sources declined to be identified before the formal announcement.
When contacted, a ZTE official declined to comment.
The Chinese company had won the deal after KPN's existing deal with Alcatel-Lucent expired.
The sources also did not divulge the number of its employees who would be servicing KPN's opertions. The German operator provides WCDMA and LTE (4G) services across Germany.
ZTE, which has revenues of about 84.2 billion RMB (financial year 2012), provides products and services to more than 500 operators in over 160 countries.