Profits almost doubled while revenue rose 8.3 per cent, thanks partly to growth in sales of 4G smartphones and 3G mobile phones internationally
ZTE saw net profit rise 94 per cent year-on-year in 2014 to RMB 2.63 billion (£285 million) while revenue was up 8.3 per cent to RMB 81.47 billion (£8.83 billion).
This is according to the latest annual results announcement made by the Chinese manufacturer today, which attributed its growth to a surge in 4G sales, although it didn’t specify numbers.
Within its mobile devices division, ZTE posted a growth in sales of 4G smartphones and 3G smartphones internationally, adding it streamlined its smartphone product lines, benefitting from improved branding, channel distribution and services. Again, it didn’t specify sales figures.
Outside of China, ZTE posted revenue of RMB 40.89 billion (4.43 billion) from international operations, accounting for 50.2 per cent of overall revenue. This compares to revenue of RMB 39.60 billion from 2013, accounting for 52.6 per cent of overall revenue.