ZTE Posts 13.8% Growth in Operating Revenue for Q1 2011

ZTE Corporation, provider of telecommunications equipment and network solutions, has announced a 13.80% increase in operating revenue to RMB15,085 million (USD 2,300.81 million), for the quarter ended 31 March, 2011.

In the same period, net profit attributable to shareholders of the parent company grew by 15.86% to RMB127 million (USD 19.37 million). Basic earnings per share was recorded at RMB0.05 (USD 0.01).

The group consolidated and enlarged its market share in the domestic market during the reporting period, by pro-actively meeting the network construction requirements of the carriers that showed cautious optimism in network investments.

In addition, ZTE stepped up efforts in its research and development of new products and technologies, while continuing to explore new market opportunities. Internationally, the group sustained strong sales growth in developed countries and regions, such as the European and U.S. markets which continued to register stable growth in investments.

Revenue generated by the segment of carriers’ networks grew by 1.57% compared to the same period last year, reflecting the increase in sales of wireless systems, wireline switches and access systems. Meanwhile, sales revenue from terminal products also grew by 51.04% compared to the same period last year.

This growth was primarily driven by revenue generated from the sales of 3G handsets, GSM handsets, CDMA handsets and data card products. There was a slight decline of 0.26%, year-on-year, in the sales revenue of telecommunications software systems, services and other products.

Looking forward, the group seeks to capitalise on opportunities presented by increasing broadband penetration, as well as upgrades to wireless network equipment and demands for smart terminals in the global market.

With a strong focus on customers’ requirements, ZTE will continue to develop products and provide services that help customers to reduce their operating costs, alleviate network pressure and realise resource sharing.

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