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Wireless

ZTE triples H1 profit on demand for 4G

Wednesday 20 August 2014 | 14:41 CET | News
ZTE confirmed a more than tripling in its first-half net profit, to CNY 1.13 billion from CNY 310 million a year earlier. While revenues were only up 0.5 percent to CNY 37.70 billion, the Chinese equipment maker managed to reduce operating costs and improve gross margins, driven by the growing number of 4G network deployments and a focus on more profitable contracts. It expects continued investment in new 4G networks in its home market to drive further growth in the second half. The company forecast net profit will more than triple in the first nine months of 2014 to CNY 1.7-1.9 billion, an

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Categories: Mobile & Wireless
Companies: ZTE Belgium
Countries: China / World
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