ZTE sees 30% income boost
By Melanie Lee and David Lin |
May 18, 2010, Tuesday
|
Print Edition
Print Edition
CHINA'S No.2 telecommunications equipment maker ZTE Corp expects group revenue to grow by about 30 percent over the next few years, fueled by the rapid rise of its cell phone unit, a senior executive said.
ZTE also expects mobile phone revenue to grow 35 percent this year and form half of the group's total revenue in five years, He Shiyou, ZTE's head of mobile terminals, said at the Reuters Technology Summit in Shanghai yesterday.
"From the group's perspective, achieving 30 percent revenue growth is the minimum to give a good report to shareholders and investors," said He.
Analysts had expected about a 24 percent rise in total revenue for the year, according to Thomson Reuters. ZTE reported group revenue of 60.27 billion yuan (US$8.82 billion) and mobile terminal sales of 13.07 billion yuan last year.
ZTE's mobile terminals segment is the firm's fastest growing unit, booking a 40 percent rise in sales in the first quarter.
"We hope that within five years, mobile phone revenue will form 50 percent of the group's sales," said He, adding that cell phone revenue was around 20 percent now.
ZTE said carrier network sales were flat in the first quarter and it is banking on the smartphone boom to boost its mobile phone revenue.
"Most of the interest when we talk to US or European clients is in our smartphones," said He.
ZTE also expects mobile phone revenue to grow 35 percent this year and form half of the group's total revenue in five years, He Shiyou, ZTE's head of mobile terminals, said at the Reuters Technology Summit in Shanghai yesterday.
"From the group's perspective, achieving 30 percent revenue growth is the minimum to give a good report to shareholders and investors," said He.
Analysts had expected about a 24 percent rise in total revenue for the year, according to Thomson Reuters. ZTE reported group revenue of 60.27 billion yuan (US$8.82 billion) and mobile terminal sales of 13.07 billion yuan last year.
ZTE's mobile terminals segment is the firm's fastest growing unit, booking a 40 percent rise in sales in the first quarter.
"We hope that within five years, mobile phone revenue will form 50 percent of the group's sales," said He, adding that cell phone revenue was around 20 percent now.
ZTE said carrier network sales were flat in the first quarter and it is banking on the smartphone boom to boost its mobile phone revenue.
"Most of the interest when we talk to US or European clients is in our smartphones," said He.
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