8/19/2009 4:10:00 PM
ZTE reports record revenues
ZTE has reported record revenues of RMB 27.7bn (£2.4bn) for the first half of this year, a 40% increase on the same period in 2008.
Net profit also grew 40%, to RMB 780m (£69m). Revenue from the company’s international operations accounted for 46% of its total operating revenue.
ZTE said the results were ‘in line with expectations’.
ZTE Chairman, Hou Weigui, said: ‘The Group will seek to consolidate its businesses with the three leading PRC carriers on the back of its initial market shares in the domestic 3G sector.
‘Meanwhile, the Group will seek to maintain its competitive edge in the international market and focus on large, populous countries as potential emerging markets.
‘We will also strengthen cooperation with key strategic carriers in high-end markets such as Western Europe and North America to unfold further opportunities for co-operation with top-tier global carriers, in response to upgrades of communications technologies taking place in developed countries/regions and changes in the competitive scenario for global suppliers.’