News Articles

Sunday, April 28, 2013

ZTE reports increase in quarterly profits

ZTE Corporation says its profits rose by 35.9% in the first quarter of this year, helped by the sale of some company assets. Net income was up to 205 million yuan (£21 million), although quarterly sales were down 2.8% year-on-year to 18.1 billion yuan (£1.9 million).

In a statement, the company said “Since the second half of 2012, ZTE has stringently enforced measures to focus resources on key products and markets, target higher-margin contracts, improve cash flow management and reduce costs, under the company’s operational review. This has helped the company achieve a more optimal product and customer mix, and an improved cost structure. The company achieved combined savings of RMB 350 million in selling, administration and research costs in the first quarter compared with a year earlier. The results of the operational review, combined with the disposal gain, allowed the company to overcome the negative effects from currency fluctuation and asset write-downs to record higher net profit.”

[Report (pdf)]

Print
Author: The Fonecast
0 Comments
Rate this article:
No rating

Categories: Handsets and manufacturers, NewsNumber of views: 5380

Tags: zte

Leave a comment

This form collects your name, email, IP address and content so that we can keep track of the comments placed on the website. For more info check our Privacy Policy and Terms Of Use where you will get more info on where, how and why we store your data.
Add comment

Follow thefonecast.com

Twitter @TheFonecast RSS podcast feed
Find us on Facebook Subscribe free via iTunes

Archive Calendar

«November 2024»
MonTueWedThuFriSatSun
28293031123
45678910
11121314151617
18192021222324
2526272829301
2345678

Archive

Terms Of Use | Privacy Statement