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Buyer Community> Trade Intelligence> China Biz> ZTE Q1 net profit up 29.17%
Source: China Knowledge China Knowledge

ZTE Q1 net profit up 29.17%

Published: 24 Apr 2009 01:35:21 PST

Apr. 24, 2009 (China Knowledge) - ZTE Corp<000063><763>, a leading global provider of telecom equipment and network solutions in China, reported a 29.17% year-on-year increase in its net profit in the first quarter of this year, which was RMB 78.66 million, due to the 3G boom in China and the government's stimulus package for the electronics and IT sector, according to a statement released today.

In the same period, the company realized total operating revenue of RMB 11.67 billion, up 35% from a year earlier.

In the first three months, ZTE's revenue from the carrier network business surged 47% year on year, mainly driven by revenue generated from 3G and GSM network building, while income from sales of mobile handsets climbed 22.2%.

ZTE reported a net profit of RMB 1.66 billion for last year, up 33%, whereas it grew 63.26% in 2007.

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