VIENNA -- China's Zhongxing Telecommunication Equipment Corp launched its latest smartphone with a cutting-edge Intel processor in Vienna on Friday.

He Shiyou, ZTE's executive vice-president, said the launch marked successful cooperation with Intel Corporation.

The state-of-the-art phone boasts 1GB memory, a 4.0-operating system, a 4.3-inch touch screen of 16 million colors and so on.

ZTE recently became the world's fourth-largest mobile phone company and the fifth-largest smartphone vendor, He Shiyou said, adding that the company aims to become one of the world's top three mobile phone manufacturing companies by 2015.

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Addressing security concerns recently raised by the US Congress, He Shiyou said the firm would actively cooperate with investigations and sought to reassure the world that "ZTE has no security problems".

"There is no need to hide our global business, because we are an open and transparent listed company," he added.