Manufacturer’s pre-tax profits fall to £65.1m as the company increases focus on growth in developed markets
Handset manufacturer ZTE has announced a revenue increase of 15 per cent for the first half of the year, but pre-tax profits fell year-on-year by 49 per cent to around £65.1m.
The company’s revenue rose to over £4.23billion in the six months up to the end of June, with 51 per cent of this coming from outside of its home market of China.
According to the firm’s official statement on the results: “The company endeavoured to enhance its market position by focusing on growing its business in developed nations and by cooperating with mainstream global carriers. It also consolidated market share in emerging markets.”