ZTE sees Q1 profit more than doubling

Nieuws Mobiel Wereld 10 APR 2014
ZTE sees Q1 profit more than doubling
ZTE said it expects to first-quarter profit to be at least double that from the same period last year, reflecting the strengthening of its core operations. Net profit is estimated at CNY 425-637 million, a year-on-year increase of between 107.3 and 210.7 percent, according to ZTE's preliminary results announcement filed with the Hong Kong stock exchange. 

ZTE expects to record significant increases in gross profit and gross margin, thanks to its increased focus on servicing higher-margin contracts. Operating revenue from 4G infrastructure systems in China as a percentage of overall revenue increased, while gross margins for international projects also improved. ZTE said it's optimistic about its business prospects due to the acceleration in 4G network deployments and demand for 4G mobile devices. 

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