ZTE to sustain massive profit growth [TradeArabia]
(TradeArabia Via Acquire Media NewsEdge) ZTE Corporation, a global provider of telecommunications equipment, network solutions and mobile devices, has forecast that its net profit will more than triple in the first nine months as the strong momentum in the company's 4G LTE business is sustained.
Net profit attributable to the shareholders of ZTE Corporation will be between RMB 1.7 billion ( $276 million ) and RMB 1.9 billion ( $308 million ) in the first nine months, an increase of between 208.2 per cent and 244.5 per cent from a year earlier, according to a statement released by the company.
ZTE also reported that its first-half net profit increased from 263.9 per cent to RMB 1.13 billion ( $183 million ). The company's revenue increased to RMB 37.7 billion ( $6.12 billion ).
The latest forecast by ZTE reflected their strength in revenue from network contracts and ongoing improvements to contract profitability in the first nine months, supported by continued investments by customers in 4G networks in China. - TradeArabia News Service
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