ZTE First-Quarter Profits Up by 29%
Published on: 26th Apr 2009
Note -- this news article is more than a year old.
China's ZTE has reported that its first quarter revenues reached RMB 11.67 billion (USD1.71 billion) representing an increase of 35% compared with the same period last year. Net profit was RMB 78.66 million (USD11.54 million) representing an increase of 29.17% compared with the same period last year.
In terms of product category, ZTE posted a 46.9% growth in system devices, while revenues from 3G and GSM network construction maintain robust growth. Revenue from mobile handset products grows by 22.2% against the same period. Also, telecom software systems, services and other products grew by 3.6% as compared to the same period last year.
In the 3G tender bids offered by China's three largest telecom operators, the Group has achieved a leading position in WCDMA network projects by successful deployments in more than half of developed municipalities in China, including Guangdong, Fujian, Shandong and Tianjin. Meanwhile, the Group secured solid presence in the previous TD and CDMA tenders and performed well in the previous 3G terminal biddings.
Looking ahead, ZTE aims to consolidate its 3G market share and will continue to focus on investing in relevant network and terminal products. Greater effort will also be made to secure businesses from multi-national carriers operating in Europe, the US and emerging markets to ensure continuous growth of the Group's business in spite of the current global crisis.