ZTE Q3 net profit jumps 58% on higher China sales

Write: Haimi [2011-05-20]

By Lorraine Luk, Dow Jones Newswires

Tuesday 27 October 2009

Revenue surges 43% on 3G equipment sales.

Chinese telecommunications equipment maker ZTE Corp. said Tuesday its third-quarter net profit rose 58% from a year earlier due to strong demand in its domestic market.
Hong Kong and Shenzhen-listed ZTE said its net profit for the three months ended Sept. 30 was CNY408.6 million, up from CNY258.3 million a year earlier.
Revenue rose 43% to CNY15.14 billion from CNY10.60 billion, mainly driven by sales of third-generation telecom equipment in China.
ZTE Q3 net profit jumps 58% on higher China sales

ZTE has benefited from hefty spending on network equipment by China's telecommunications operators after the issuance of 3G licenses earlier this year.