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Huawei, ZTE big winners in China Mobile's $3.2bn 4G tender

2013-08-23 02:00:00| Total Telecom industry news

Foreign vendors secure a third of Chinese operator's TD-LTE procurement, Reuters reports.

ZTE forecasts strong improvement in Q3 profit

2013-08-21 14:59:00| Telecompaper Headlines

(Telecompaper) ZTE has forecast a strong improvement in profits in the third quarter, following an increased focus at at the Chinese equipment maker on high-margin contracts over volume. The company said profit for the first nine months of 2013 will be between CNY 500 and 750 million, reversing a loss in the year-earlier period. This means third-quarter profit could be as much as twice the CNY 310 million reported for the first six months of the year. The first-half profit was up 26.6 percent from a year earlier, helped by cost reductions and a financial gain from the disposal of its stake in Shenzen ZNV Technology. Revenue in the first six months decreased 11.9 percent to CNY 37.58 billion, as Chinese operators slowed spending in preparation for the launch of LTE tenders and other operators around the world took a more cautious stance on investments. Revenues in China fell 10 percent year-on-year to just over half the total, or CNY 18.8 billion, while Asia and Africa each showed drops of over 20 percent, and revenues in Europe and the Americas were down just 4.4 percent. According to product, carrier network equipment recorded sales of CNY 19.1 billion, down 10.5 percent from a year earlier; terminals generated CNY 12.5 billion, down 12.5 percent; and software, services and other products had revenues of CNY 6.1 billion, down 14.8 percent.

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ZTE says Jan-Sept profit could hit 750m yuan

2013-08-21 02:00:00| Total Telecom industry news

Chinese equipment maker says earnings driven by tighter cost controls.

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Ethio Telecom signs USD 800 mln expansion deal with ZTE

2013-08-19 13:00:00| Telecompaper Headlines

(Telecompaper) Ethio Telecom has signed an USD 800 million agreement with China's ZTE to expand its telecommunications network, AFP reports. CEO Andualem Admassie told journalists that the expansion project was vital to attain Ethio Telecom's objective of increasing coverage across the country and to upgrade its existing. The agreement is part of a USD 1.6 billion expansion project shared with China's Huawei. The two equipment vendors have split the cost of the scheme. The expansion project aims to increase mobile phone and 3G Internet access throughout the country and to introduce 4G broadband Internet in the capital Addis Ababa. Ethio Telecom, the country's monopoly phone and internet provider, aims to increase mobile coverage to 80 percent of Ethiopia. Andualem said the expansion is part of Ethiopia's "growth and transformation plan," an economic blueprint that aims to help Ethiopia reach middle-income status by 2025. Less than one percent of Ethiopia's 85 million people have access to the mobile internet and 23 percent subscribe to mobile phones, according to the ITU.

Tags: deal usd signs expansion