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China's ZTE has announced the launch of the Gigabit Phone, a device that offers extremely fast connectivity at 1Gbps, as well as a few other nifty features.

Besides the amazing download speeds -- ZTE did not share details of how the phone will achieve such fast connectivity -- the Gigabit Phone will also have the ability to create panoramic, 360-degree video, and it will come with "instant cloud storage."

While it's unlikely that you'll see support for gigabit LTE on your carrier anytime soon, you have to start somewhere. Qualcomm launched a gigabit LTE-capable chip last year, and a first gigabit LTE network went live earlier this month in Australia, but we're not aware of any commercially available phone that can actually achieve gigabit speeds right now.

No other details about the Gigabit Phone were shared, but ZTE's press release did say that the company will focus on 5G, cloudification and the "Internet of Everything."

The company will also launch new devices in its mid-range Blade lineup.

With the announcement, ZTE joins a long line of Chinese manufacturers who are slated to show off a new phone during Mobile World Congress in Barcelona which kicks off Feb. 27. These include Huawei, Oppo, Lenovo/Moto and Alcatel, all of which have scheduled events during or ahead of the MWC.

It appears that ZTE does not plan an event for the phone's launch; instead, the company will showcase it at its MWC booth in Barcelona. Mashablewill cover the event and we will report on anything cool we find there.

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