Chinese telecoms equipment maker ZTE “isn’t interested” in Motorola’s handset operations, and will focus instead on organic growth, Chairman Hou Weigui told Dow Jones Newswires. Chou said that acquiring Moto’s struggling handset business didn’t “make sense” as the “synergies won’t be big enough to cover the costs.” Plus, ZTE doesn’t actually have the money to buy out a large company like Motorola (NYSE: MOT). In February, Samsung, LG (SEO: 066570), and Sony (NYSE: SNE) Ericsson (NSDQ: ERIC) have all said they wouldn’t make a bid for Motorola either.

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ZTE recently sold its 100 millionth handset and is hoping to crack the “big five” mobile handset makers. It’s not an unrealistic goal, especially as ZTE is currently in sixth position, and number three Motorola and fifth placed Sony Ericsson are struggling. The company, which started selling handsets in 2002 in its domestic market of China, made its name in low-end phones for emerging markets, but recently said it intended to enter the smartphone market.