ZTE's net profit booms on 3G demand
By Zhu Shenshen |
April 10, 2010, Saturday
|
Print Edition
Print Edition
ZTE Corp's net profit in 2009 jumped almost 50 percent annually on a boom in demand for 3G domestically, China's biggest publicly-listed telecommunication equipment maker said yesterday.
In 2009, ZTE attained significant breakthroughs and growth in supplying equipment to telecom operators' networks, said its chairman. "We topped the overall ranking for China's 3G market during the reporting period, while revenue from Europe and America also grew," Hou Weigui, the chairman, said in a statement.
Shenzhen-listed ZTE posted a net profit of US$360 million in 2009, a jump of 48 percent from 2008's.
It achieved revenue of US$8.8 billion in 2009, a 36 percent annual rise.
ZTE's revenue in the domestic market outpaced the rise in overseas income in the period since China issued 3G licenses in January last year, which encouraged the three telcos to invest in the 3G sector, industry insiders said.
ZTE's domestic revenue surged 74 percent on an annual basis to US$4.4 billion in 2009. Its international operations rose 11 percent from a year earlier to US$4.37 billion, which accounted for 49.6 percent of its total revenue.
ZTE shipped 60 million wireless terminals in 2009, a 33 percent rise from a year earlier. They included more than 40 million handsets and 20 million data cards, with more than 70 percent going overseas, according to iSuppli, an IT consultant.
ZTE shares rose 2.92 percent to close at 42.30 yuan (US$6.20) yesterday.
"ZTE's income will be influenced by Chinese carriers cutting spending this year, but its price is still attractive," said Chen Haofei, an analyst at China International Capital Corp.
In 2009, ZTE attained significant breakthroughs and growth in supplying equipment to telecom operators' networks, said its chairman. "We topped the overall ranking for China's 3G market during the reporting period, while revenue from Europe and America also grew," Hou Weigui, the chairman, said in a statement.
Shenzhen-listed ZTE posted a net profit of US$360 million in 2009, a jump of 48 percent from 2008's.
It achieved revenue of US$8.8 billion in 2009, a 36 percent annual rise.
ZTE's revenue in the domestic market outpaced the rise in overseas income in the period since China issued 3G licenses in January last year, which encouraged the three telcos to invest in the 3G sector, industry insiders said.
ZTE's domestic revenue surged 74 percent on an annual basis to US$4.4 billion in 2009. Its international operations rose 11 percent from a year earlier to US$4.37 billion, which accounted for 49.6 percent of its total revenue.
ZTE shipped 60 million wireless terminals in 2009, a 33 percent rise from a year earlier. They included more than 40 million handsets and 20 million data cards, with more than 70 percent going overseas, according to iSuppli, an IT consultant.
ZTE shares rose 2.92 percent to close at 42.30 yuan (US$6.20) yesterday.
"ZTE's income will be influenced by Chinese carriers cutting spending this year, but its price is still attractive," said Chen Haofei, an analyst at China International Capital Corp.
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