Profit Rises 14.21% in the Period
HONG KONG, Thursday, October 28th 2010 [ME NewsWire]:
Revenue from Terminal Products Grew by 30.53%
(BUSINESS WIRE)-- ZTE Corporation (“ZTE” or the “Group”) (H share stock code: 0763.HK / A share stock code: 000063.SZ) today reported a 7.51% increase in operating revenue to USD 6.87 billion for the nine months ended 30 September 2010. In the same period, net profit attributable to shareholders of the parent company grew 14.21% to USD203.1 million year-on-year. Basic earnings per share amounted to USD 0.0731.
For the system products, the company's wireless offerings continue to perform in a competitive market. ZTE has achieved tremendous technological advancement in the LTE/TD-LTE arena. The UniRAN solution based on SDR technology has been well received in the market. Within the wireline product suite, FTTx solutions remain ranked among the top 2 in the world, and the company’s optical transmission products are now ranked at the top 3 in the world for the first time.
Revenue from terminal products grew by 30.53% due to China’s expanding 3G market, the popularity of Android handsets in Europe and the U.S., as well as the data card products. The cooperation with Vodafone and Hutchison in the smartphone business has also achieved great progress while the company’s relationship with major operators such as Verizon has strengthened. Revenue from the telecommunication software systems, services and other products also grew by 23.94%, reflecting primarily growth in the sales of video, network terminals and service offerings.
In the first nine months, ZTE focused on developing its presence in the U.S. and European markets as well as in developing countries. The group also cooperated with France Telecom, Telkom, Telefonica, America Movil, Brasil Telecom and other global mainstream telecommunications operators in different products to form a new collaboration. ZTE’s 3G equipment was also successfully launched in Hungary, Poland and a number of CIS countries, as well as making successful inroads into Brazil and South Africa, laying a solid foundation for the company’s future growth in these markets.
Looking forward, the Group will make strong efforts to seize opportunities presented by the popularity of broadband services in emerging markets, as well as offering network upgrades in developed countries. With an emphasis on meeting customer needs, and product research and development, services will be focused on reducing operating costs and alleviating network pressure.
Meanwhile, ZTE will continue to focus on internal management practices to improve operating efficiency as it pursues stable and sustainable development.
About ZTE
ZTE is a leading global provider of telecommunications equipment and network solutions with the most comprehensive product range covering every sector of the wireline, wireless, service and terminals markets. The company delivers innovative, custom-made products and services to over 500 operators in more than 140 countries helping it to meet the changing needs of customers. ZTE’s 2009 revenue led the industry with a 36% increase to USD 8,820.7 million.
ZTE commits 10 percent of its revenue to research and development and takes a leading role in a wide range of international bodies developing emerging telecoms standards. ZTE is also a company with sound corporate social responsibility (CSR) initiatives.
ZTE is a member of the UN Global Compact. It is China’s only listed telecom manufacturer, publicly traded on both the Hong Kong and Shenzhen Stock exchanges (H share stock code: 0763.HK / A share stock code: 000063.SZ). For more information, please visit www.zte.com.cn.
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