ZTE has posted revenues for the first quarter of 2014. For the quarter under review, the telecom equipment vendor?s revenues have increased by 5.5 per cent to reach RMB 19.05 billion, while its net profit grew by 203.5 per cent to reach RMB 622 million.
Higher number of 4G network rollout contracts has been one of the key growth drivers for the company?s encouraging performance. Going forward, ZTE is expecting 158.1 per cent to 222.6 per cent growth in first half of 2014 to achieve net profit between RMB 800 million and RMB 1 billion.
At present, the company is focused on technologies and segments such as mobile internet, 4G, smartphones and devices, in addition to the growth of strategically important segments such as cloud-computing, Internet of Things and Smart City.
