Thursday, October 25, 2007

China's ZTE Reports Fast Growth

ZTE, the Chinese manufacturer of telecom infrastructure products, said its Q3 revenue climbed 53.07 percent to RMB 8.216 billion as compared to the same period last year, and its net profit rose 116.46% to RMB 143 million as compared to the same period last year.

ZTE said its domestic telecommunications market enjoyed stable growth during the nine months ended 30 September 2007. Growth in investments was underpinned by expenditure mainly in three areas, namely TD-SCDMA network building, core network revamping and upgrading by carriers of IT systems, while investments in mobile telecommunication network equipment further increased as a percentage of total investments in the telecommunications sector. The company announced closer cooperation with major domestic carriers such as China Mobile and China Unicom.

ZTE said the international market for telecommunications equipment also sustained stable growth thanks to technological innovations and market demands that had provided increasing driving force. Rapid changes in new technologies and fast growth in emerging markets in Asia and Africa became key factors for growth as well as the focus of competition for the telecommunications industry.

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