Announced at MWC 2017, ZTE’s first 5G-ready smartphone will enter the market by 2020

Chinese multinational telecommunications equipment and systems company ZTE came up with the world's first smartphone companionable with the lightening-fast 5G mobile internet services that networks wait for to have up and much more. The company announced that the Gigabit Phone is the first smartphone proficient of downloading pace reaching up to 1 gigabit per second (Gbps) – this is obviously up to 10 times faster than the first generation of 4G services which is in use by users today.

The device was launched recently in Barcelona in northeastern Spain on the start of the world's biggest mobile fair, Mobile World Congress. Along with other super features that device will allow for 360-degree panoramic Virtual Reality video and fast downloads of ultra Hi-Fi music and videos.

"With the new device, the way people stay connected will be changed forever. Focusing on 5G technologies will be one of the key priorities of ZTE's global development," a ZTE spokesman said.

Well, on the competition front other Tech firms are chasing to expand products that will be compatible with 5G, shorthand for the fifth generation of networks, which swears glowing fast connectivity for a generation used to streaming movies and TV directly to phones. South Korean carrier KT Corp aims to offer trial 5G services during the 2018 Winter Olympics in Pyeongchang.

The primary extensive commercial consumption of the technology is predictable in 2020. Forrester analyst Thomas Husson said ZTE was using the phone to "showcase innovation" and "offer a glimpse into the future when people will be able to download full movies in seconds" but it was not likely to be a big seller.

"The sad reality is that this smartphone will not end up in consumers' pockets because both 5G and Virtual Reality are still years away to be a mass-market consumer reality," he added. Founded in 1985, ZTE takes pride in being the only Chinese smartphone seller with a significant occurrence in the United States, where its 10 percent market share makes it the fourth-largest vendor.