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China's ZTE net profit up 263 percent in H1
(MENAFN) ZTE Corp., China's telecom equipment maker, posted a record-high net profit in the first half of the year, driven by improving margins in its global business, Arab News reported.
The company's first-half net profit increased 263 percent over a year earlier, reaching USD184 million compared to a net profit of USD50.35 million registered a year ago.
Meanwhile, the company's operating revenue for terminal products dropped 16.49 percent in the first half due to declining 3G cellphone revenue in China, ZTE said.
"The group continued to assume a leading position in 4G product tenders, with effective growth in market shares," the company said in a statement.
The company's first-half net profit increased 263 percent over a year earlier, reaching USD184 million compared to a net profit of USD50.35 million registered a year ago.
Meanwhile, the company's operating revenue for terminal products dropped 16.49 percent in the first half due to declining 3G cellphone revenue in China, ZTE said.
"The group continued to assume a leading position in 4G product tenders, with effective growth in market shares," the company said in a statement.
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