29 Oct, 2007,
China's ZTE Corp. has reported that for the nine months ended 30 September 2007, revenue from the Group's operations amounted to RMB23.448 billion (US$3.14 billion), representing an increase of 47% compared to the same period last year. Net profit amounted to RMB603 million (US$80.6 million), representing an increase of 46% compared to the same period last year.
In the third quarter, the revenue of ZTE climbed 53 percent to RMB8.2 billion (US$1.1 billion) as compared to the same period last year, and the net profit surged by 116% to RMB143 million (US$19 million) as compared to the same period last year.
The company said that domestic telecoms market enjoyed stable growth during the nine months ended 30 September 2007. Growth in investments was underpinned by expenditure mainly in three areas, namely TD-SCDMA network building, core network revamping and upgrading by carriers and informatisation projects, while investments in mobile telecommunication network equipment further increased as a percentage of total investments in the telecommunications sector. The Group has also entered a stage of closer cooperation with major domestic carriers such as China Mobile and China Unicom.
The international market for telecommunications equipment also sustained stable growth thanks to technological innovations and market demands that had provided increasing driving force. Rapid changes in new technologies and fast growth in emerging markets in Asia and Africa became key factors for growth as well as the focus of competition for the telecommunications industry. The Group had also enhanced cooperation with mainstream carriers.
Looking to the final quarter, ZTE intends to achieve continuous growth by strengthening its ties with leading international carriers, enhancing resource integration and improving operational efficiency, enlarging market shares in prestigious products such as GSM and CDMA and increasing investments in TD-SCDMA, WCDMA, CDMA2000 and other products.
