Chinese telecoms company ZTE unveiled on Sunday Gigabit Phone, the world's first smartphone with 5G technology, in Barcelona, the host city of the upcoming Mobile World Congress (MWC) in Spain.

With a download speed of up to 1 Gbps per second, the phone is powered by a Qualcomm Snapdragon 835 processor that features an integrated X16 LTE modem and represents an important step for 5G technology.

The phone "marks an important cornerstone for the 5G mobile era," the company said in a statement, as it will lead to a new world of mobile experience with 360-degree panoramic VR video, instant Cloud storage, entertainment upgrades and fast cache of ultra Hi-Fi music and movies.

ZTE is a leading global provider of telecommunications equipment, networking solutions and one of the world's fastest growing smartphone manufacturers.

This is the 13th time that ZTE has attended the MWC, the world's largest mobile industry event.