Manufacturer attributes strong growth to increasing sales of 4G network equipment to global carriers
ZTE saw net profit surge 43.2 per cent yearly to RMB 1.62 billion (£162 million) in the first six months of 2015 as a result of increases sales of 4G network equipment to global carriers.
In results posted by the Chinese manufacturer today, overall revenue also increased year-on-year by 21.8 per cent to £4.59 billion.
ZTE said this strong position in the 4G market is providing it with a platform to lead the industry in the transition to next-generation 5G technologies.
Revenue for its Mobile Devices division was £997 million. ZTE did not disclose this figure in its results for H1 2014.
Carrier networks revenue rose more than 30 per cent from a year ago to £2.85 billion while revenue in the manufacturer’s telecommunications software systems, services and “other products” division increased 36.11 per cent to £744 million.