Jun. 18, 2009 (China Knowledge) - ZTE Corp<000063><0763>, a leading global provider of telecom equipment and network solutions in China, announced on Wednesday that it has signed an agreement with Etihad Atheeb Telecom Co to deploy a WiMAX network in Saudi Arabia, sources reported.

Under the agreement, ZTE will provide customized end-to-end networking solutions and build around 300 WiMAX base stations in five major Saudi Arabian cities, including Dammam and Khobar.

Atheeb Telecom, the second-largest fixed-line operator in Saudi Arabia, will be the first telecom carrier in the country to build a WiMAX network. ZTE will be its biggest telecom equipment provider.  

As of Mar. 31, 2009, ZTE had signed agreements with 40 telecom operators in 26 countries to deploy WiMAX networks.

Shenzhen-based ZTE earlier reported a 29.17% year-on-year increase in its net profit in the first quarter of this year, which was RMB 78.66 million, due to the 3G boom in China and the government's stimulus package for the electronics and the IT sector.

ZTE's handset sales jumped 30% from a year earlier to 10 million units in the first quarter of this year.