8/20/2010 11:24:00 AM
ZTE reports strong performance in Europe and America
ZTE has reported a strong performance in Europe and the US during the first half of 2010.
Revenue from the two markets amounted to 18% of the Chinese manufacturer and wireless network provider’s revenue for the six months ended 30 June 2010, and grew by 45% year on year.
Overall the manufacturer saw net profit grow by 12% to $4.5bn (£2.8bn).
However, much of ZTE’s growth continued to come from the Chinese market, where it saw consumer take-up of 3G devices grow significantly. The manufacurer reported a 39% year on year growth in revenue from the sale of devices.
ZTE has recently launched an Android pay-as-you-go phone on 3’s network priced at £99.99.
Despite take up of ZTE’s devices in the Chinese market, the manufacturer acknowledged that revenue from Asia declined due to India’s ban on Chinese telecoms equipment.
Of all the telecoms products ZTE provides, devices contributed the most revenue growth (39%) for the first half of the year. Carrier networks revenue growth was reported as 1.08% and telecoms software systems, services and other products revenue grew by 17.99%.