Mobile manufacturer ZTE has published preliminary annual results for 2012, revealing that it expects a loss of between 2.5 billion and 2.9 billion Chinese Yuan (£253 to £294 million). Last year it made a 2.06 billion Yuan profit.
However, the company expects to make a profit in the first quarter of this year.
This year, ZTE says it will ‘identify its challenges’ and improve efficiency, it’ll sharpen its focus on mainstream products, it will streamline its organisation and will introduce greater management accountability.