Smartphone sales quadruple to drive growth with international sales up 62 per cent ahead of launch of own-branded smartphones, but net profits fall 12 per cent
Chinese mobile maker recorded a 21.5 per cent year-on-year increase in revenues to £3.59 billion for the six months ending June 30.
The increase in revenues was driven partly by a 400 per cent increase in sales of “smart terminal” products, such as smartphones and tablets.
Overall, sales of ZTE terminal products, including more basic handsets, rose 44 per cent compared to the same six months of 2010.
However, net profit at the firm fell 12.3 per cent to £74 million.
ZTE said that increasing international sales, especially in Europe and North America, were a strong driver of growth.
Sales in Europe and North America rose 62 per cent compared to the same period last year, accounting for 24 per cent of the firm’s total revenues.
ZTE is in the process of launching a range of own-branded devices after years of making devices as an OEM, including the San Francisco and recently released Monte Carlo handsets for Orange.
The firm said it hopes the release of the ZTE Blade Skate and Light (pictured) devices will boost brand awareness.
The firm also claimed to have signed 23 new contracts to deliver Long Term Evolution (LTE) fourth-generation network technology, more than half of which were in developed areas nations in Europe, North America and in Japan.