Chinese telecom manufacturer ZTE Corporation has announced its results for the financial quarter that ended 31st March 2012.
Operating revenue was up 29.46% year-on-year to $2.96 billion (£1.83 billion), while net profit was up 23.85% to $22.99 million.
In its official announcement, ZTE said “In addition to its focus on competitively priced smartphones (approximately US$158), the company will continue to emphasize its competitive mid-to-high end terminals, including the U970 model and upgraded models such as the U880D/U880E. ZTE will look to expand its sales of these products in the United States, Japan and Europe. The company will also seek to maintain the growth of its other products such as telecommunications services and government enterprise solutions. The company sees these areas, together with its network solutions and terminal products, as important for growth moving forward.”