ZTE boosted by handset sales in Western markets and 3G growth in home market
Chinese handset manufacturer ZTE saw group revenue increase 10.89 per cent year-on-year in the first half of 2010, with the contribution from Western markets up 45 per cent.
Group revenue in the first half was $4.5 (£2.8) billion, 18 per cent of which was attributable to the US and European markets.
International revenue overall rose 19.58 per cent to $2.3 (£1.5) billion, which was 49.65 per cent of the total operating revenue.
Net profit was up 12.02 per cent to $129.1 (£82.6) million.
Handsets led the way for product area growth, increasing revenue 39.71 per cent year-on-year. ZTE said this was driven by growth in 3G mobile phone use in China, as well as strong growth in international markets such as Europe.
ZTE has already said it is on target to ship 80 million devices worldwide in 2010, having shipped over 40 million in the first six months of the year.
The firm expects to ship 100 million in total in 2011, and 200 million by 2015, putting it in the top three handset manufacturers by volume.
In the UK, ZTE had a three per cent share of handsets handled by operators in 2009. It has set a target of eight per cent through operator ODM and co-branded business for 2010. It has already hit six per cent in the first six months of the year, it said.
ZTE recently launched a co-branded handset with operator Three, its first Android phone available in the UK.
Elsewhere in the group during the first half of 2010, revenue in ZTE’s carrier network business grew marginally by 1.08 per cent, while revenue in telecommunication software systems, services and other products was up 17.99 per cent.