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Thursday, March 29, 2012

ZTE reports profits up but revenue down

ZTE Corporation has published its annual results for the year ended 31st December 2011.

Revenue increased to RMB86.25 billion (£8.62 billion), up 23.4% year-on-year, while net profit was down 36.6% to RMB2.06 billion.

Hou Weigui, ZTE’s chairman, said “In 2011, equipment investments by the telecommunications industry varied by region across the globe. During the year, ZTE adjusted its product lines to continue to provide comprehensive integrated solutions to carriers. A range of measures designed to improve efficiency and optimize production processes also were introduced. In 2012, ZTE will continue its commitment to technological innovation. The company will proactively shift from being product-oriented to a solutions-oriented business.”

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Author: The Fonecast
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