the standpoint of ownership, but a POE [privately owned enterprises] from the standpoint of management" by an article in The Georgetown Law Journal. ZTE described itself as "state-owned and private-run". The South China Morning Post and the Financial Times have both described ZTE as state-owned. Other scholars have noted the links between ZTE's state-owned shareholders and the People's Liberation Army. Subsidiaries ZTE has several international subsidiaries in countries including Indonesia, Australia, Germany, the United States, India, Brazil, Sri Lanka, Myanmar, Singapore, and Romania. ZTEsoft engages in ICT industry and specializes in providing BSS/OSS, big data products and services to telecom operators, and ICT, smart city and industry products and services to enterprises and governments. Nubia Technology was a fully owned subsidiary of ZTE Corporation. The company has subsequently disposed of the majority of its equity in the company. In 2017 it reduced its stake to 49.9%. Zonergy is a renewables company with interests in electricity generation through solar parks in China and Pakistan and palm oil cultivation in Indonesia to produce biofuels. ZTE is a major shareholder and was instrumental in the creation of the company in 2007 but holds a minority of the shares in the entity. ZTE agreed to take over a 48% stake in Turkish company Netaş Telekomünikasyon A.Ş. for $101.3 million from One Equity Partners in December 2016. Following the acquisition in August 2017, ZTE has become its largest shareholder while Netaş remains an independent company. Products ZTE operates in three business segments: carrier networks, government and corporate business, and consumer business. ZTE products can be arranged into three categories: equipment used by network operators (links and nodes, etc.), equipment used to access networks (terminals), and services, which includes software. In October 2010, ZTE's unified encryption module received U.S./Canada FIPS140-2 security certification. ZTE was also reported to have developed identification cards for Venezuela that were allegedly used for tracking and social control. Consumer electronics Mobile phones In November 2017, ZTE announced the Axon M. The two screens can run separate applications, or spread one app over the combined display size of 6.75-inches. The second screen also works as a kickstand. In 2019 was announced the ZTE AXON S, a brand new concept of smartphone with no holes or apertures thanks to a lateral slider. In 2020, ZTE released the world's first under-display camera smartphone, the Axon 20 5G. This device is considered as a technological milestone