ZTE posts nine month financial figures

Telecom and network equipment vendor ZTE has posted its financial figures for the first nine months of 2010, revealing an increase in operating revenue and net profit for shareholders.

ZTE raked in $6.87 billion for the nine month period ending on 30 September, a 7.51 percent increase in operating revenue. It also posted a 14.21 percent increase in net profit to $203.1 million, which means a $0.0731 earning per share for current shareholders.

Revenue from terminal products grew by 30.53 percent, growth that is primarily attributed due to China’s expansion in the 3G market, the popularity of Android smartphones in Europe and the US, and increased demand for data card products.

Revenue from telecommunication software systems, services, and related products grew by 23.94 percent. This was attributed to increasing sales in video, network terminals and service offerings.

During the nine month period ZTE prioritised its presence in the US and European markets as well as developing regions. It signed deals with many major telecommunications providers and rolled out 3G equipment in a number of areas, helping to secure higher profits.

ZTE revealed that it intends to focus on broadband services in emerging markets, along with continuing to offer network upgrades in developed markets, which it hopes will bring further revenue increases over the coming months.