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ZTE sales growth accelerates to 24% in Q3
2014-10-23 12:22:00| Telecompaper Headlines
(Telecompaper) ZTE reported third-quarter net profit up 191 percent from a year earlier to CNY 703 million. Revenue growth accelerated to 24 percent in Q3, from just 0.5 percent in H1, led by over 40 percent growth in handset sales. ZTE also posted growth in revenue from carrier network equipment, including 4G systems, and telecommunications software systems. Total sales reached CNY 21.1 billion. Net profit in the fist nine months of the year rose 232 percent from a year earlier to CNY 1.83 billion, in line with the company's outlook. For the full year, ZTE forecast net profit of CNY 2.5-2.8 billion, equal to annual growth of 84-106 percent. ZTE said it experienced strong growth in its operations in Europe, North America and China, as the company focused on key products including LTE, 100G optical networks, GPON, high-performance network routers and premium smartphones. The company also claimed the top spot in the LTE market in its home market China.
Tags: sales
growth
q3
accelerates
Category:Telecommunications
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