ZTE shows big gains in Europe, America

Telecomms upstart ZTE turned in its results for the six months to the end of June 2011 and showed revenues in Europe and America had shot up by 62 percent.

Europe and America showed the fastest growth for ZTE geographically, accounting for 24.1 percent of the ZTE Group’s revenues. Asia Pacific represented 18.2 percent of ZTE revenues and Africa 13.4 percent by revenue.

As far as products go, year on year ZTE terminal products showed a jump of 43.96, 8.01 percent for carrier networks, and 42.29 percent for telecomm software systems and services.

ZTE said it made design wins across the globe in tenders for LTE and for 2G and 3G network capacity expansion. It won 23 LTE contracts in the first half.

But ZTE warned the second half of 2011 will show a complicated market with “opportunities as well as challenges”. It believes growth in the mobile internet will offer it opportunities for large scale construction of LTE and supplementary broadband construction.

ZTE turned in RMB37.337 billion for the six months, but net profit fell by 12.33 percent in the same period to RMB769 million, compared to the same period last year.