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Thursday, March 17, 2011

ZTE annual results show strong international growth

Chinese telecoms company ZTE Corporation has announced its 2010 annual results today. Revenue was up 21% year-on-year to RMB 70.264 billion (around £6.6.billion), with net profit up over 32% to RMB 3.25 billion.

Revenue from international operations has now grown to account for the majority (54%) of ZTE’s total operating revenue. The US and European markets currently contribute the largest portion of overseas revenue, having grown by 50% since 2009. These markets account for 21% of total operating revenue.

The company also notes it started the year with 1,863 international patent applications and currently owns 7% of LTE patents.

Mr Hou Weigui, ZTE Chairman, said “In the coming year, the Group will proactively respond to the dynamic requirements of customers and strengthen strategic cooperation in response to the profound changes in the global telecommunications market. Other areas of focus will also include the recruitment and development of high-caliber staff, product differentiation as well as cost-effectiveness and quality of ZTE’s solutions. We aim to achieve an excellent performance to benefit society and our shareholders.”

[Annual Report summary (pdf)]

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Author: The Fonecast
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