Huawei sponsors Lithuanian basketball team

The Lithuanian basketball federation and China's networking and telecommunication equipment company Huawei signed a sponsorship agreement on Thursday.

According to the federation, under the terms of the agreement Huawei will support the new tournament of friendly matches in Kaunas, the second largest city of Lithuania, scheduled for Aug. 16-18.

The new tournament of preparation games for FIBA 2014 World Basketball Cup will be named Huawei Cup 2014.

Arvydas Sabonis, president of the federation, said that frequent friendly preparation matches with foreign basketball teams in Lithuania inspired the federation to organize a tournament based on those games.

"That's why we, for the first time, arrange such a tournament, which will become traditional and maybe similar to Acropolis tournament in Greece," said Sabonis in a statement.

"We are very happy that Huawei agreed to patronize this cup with us," added Sabonis.

According to the federation, Huawei will support not only the cup but the federation and Lithuanian national basketball team as well.

"It's a great honor to contribute to the most popular sport in Lithuania," Zhang Xibo, Huawei's chief executive for Baltic countries, was quoted as saying by business news web vz.lt in a press conference.

Sabonis added that Huawei will also contribute to social projects and promote kids' basketball.