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ZTE returns to profit in 2013

ZTE has announced an RMB1.36bn (US$219m) net profit attributable to shareholders in 2013

Network infrastructure provider ZTE has announced an RMB1.36bn (US$219m) net profit attributable to shareholders in 2013, an improvement on the RMB2.84bn loss generated in 2012. The Chinese firm said the turnaround was due to its sharpened focus on 4G technology and cost saving initiatives.

Revenue generated during the year fell 10.6 per cent, however, from RMB84.12bn in 2012 down to RMB75.23bn in 2013.

The firm said that last year it prioritised important operations in populous countries and the development of its business with major international operators. It added that it “exercised stringent control over contracts with lower margins”, which resulted in improved gross margin for international projects.

ZTE explained that its wireless products division continued to target opportunities in network expansion and upgrade in 2G and 3G networks during 2013 and is also actively engaged in the research, development and planning of 5G technology.

The firm added that it also achieved new breakthroughs in IPTV and video conference products with tier-one international operators and that this resulted in enhanced global market share for the company.

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