Thursday, October 23, 2014

ZTE's Revenue and Profits Soar

ZTE reported that its third-quarter revenue rose 24% to RMB 21.1 billion, as sales of handsets increased more than 40% from a year earlier. ZTE also posted growth in revenue from Carriers’ Networks, including 4G systems, in addition to Telecommunications Software Systems. Net profit attributable to shareholders of the listed company increased to RMB 703 million in the quarter ended 30 September -- an increase of 191% increase in third-quarter profit.

In the first nine months, net profit increased 232% to RMB 1.83 billion, while revenue rose 7.8% to RMB 58.8 billion. ZTE forecast that full-year net profit will be between 2.5 billion to 2.8 billion in 2014, representing year-on-year growth of between 84.1% and 106%.

ZTE said it has been consolidating its position as the leading 4G LTE vendor in China.  The rapid rise in handset sales (up over 40% YoY) came from key markets, including China, the United States and Japan