ZTE reported profits of $490m during 2010 – up 32% from a year earlier. Sales grew 27% to $5.7bn during the year ended 31 December last year.
ZTE shipped 90 million units during 2010 to rank among the top five vendors worldwide, gaining full access to the four leading carriers of the US as well as the Japanese market for its terminal products.
The manufacturer said that for the first time, the US and European markets contributed the largest portion of overseas revenue, recording a year-on-year growth of 50% - which made up 21% of total operating revenue.
ZTE CEO Mr. Hou Weigui, said: ‘In the coming year, the Group will proactively respond to the dynamic requirements of customers and strengthen strategic cooperation in response to the profound changes in the global telecommunications market.
‘Other areas of focus will also include the recruitment and development of high-calibre staff, product differentiation as well as cost-effectiveness and quality of ZTE’s solutions. We aim to achieve an excellent performance to benefit society and our shareholders.’
ZTE said that it intends to continue to increase its presence and share in both domestic and international markets by deepening relations with mainstream carriers in 2011.
The company plans to strengthen its development capabilities by moving into emerging technologies such as cloud computing.