ZTE Lifts Profits Forecast for the First 6 Months of This Year
Published on: 14th Jul 2014
China's ZTE has raised its forecast for first half profit as the company says that it has maintained strong momentum in its 4G infrastructure operations.
Net profit attributable to shareholders of the listed company will be between RMB 1 billion and RMB 1.15 billion in the first six months, an increase of between 223 percent and 271 percent from a year earlier, according to the revised guidance published by ZTE.
This is compared with earlier guidance of between RMB 800 million to RMB 1 billion.
In the first six months, 4G infrastructure accounted for an increased proportion of revenue. The company retained its position as the leading vendor of 4G infrastructure to China Mobile, achieving increased market share in the tender this year. ZTE a;sp consolidated its position as the leading vendor of 4G infrastructure to China Telecom and China Unicom.
Following the launch of new LTE multiband smartphones this year, the company forecasts that 4G devices will account for 40 percent of total terminals shipments in 2014.
ZTE added that it expects its business will benefit from the award of FDD-LTE licenses in China, and the investment in 4G networks in markets such as Japan and India.