Wednesday, April 22, 2009

ZTE Posts 35% YoY Growth for Q1

China-based ZTE reported Q1 2009 revenue amounting to RMB 11.67 billion, representing an increase of 35.00% compared with the same period last year. Net profit was RMB 78.66 million, representing an increase of 29.17% compared with the same period last year. Basic earnings per share were RMB 0.06.

ZTE posted a 46.9% growth in system devices, while revenues from 3G and GSM network construction remained strong. Revenue from mobile handset products grews by 22.2% against the same period last year, while telecom software systems, services and other products grew by 3.6% as compared to the same period last year.

ZTE said it is committed to aggressively expanding internationally. Over the past few years it has been pursuing partnerships with mainstream operators in the emerging markets. Going forward, ZTE is setting up independent business units to pursue markets in Europe and the U.S.

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