ZTE raises H1 profit fore­cast

Voice&Data - - NEWS BYTES -

Tele­com so­lu­tions provider ZTE Cor­po­ra­tions has raised its fore­cast for the first-half profit on the back of strong mo­men­tum in its 4G in­fra­struc­ture op­er­a­tions. The company ex­pects that net profit to be be­tween RMB 1 bn and RMB 1.15 bn in the first six months, a rise be­tween 223%-271% from the pre­vi­ous year. It has ear­lier given a guid­ance of be­tween RMB 800 mn to RMB 1 bn. ZTE said in a state­ment, “ZTE con­tin­ued to strengthen cost con­trol and op­er­a­tional man­age­ment, achiev­ing im­proved prof­itabil­ity in in­ter­na­tional con­tracts with 4G in­fra­struc­ture ac­counted for an in­creased pro­por­tion of rev­enue.” Be­sides, in the op­er­a­tors di­vi­sion, the company re­tained its po­si­tion as the lead­ing ven­dor of 4G in­fra­struc­ture to China Mo­bile, achiev­ing in­creased mar­ket share. ZTE con­sol­i­dated its po­si­tion as the lead­ing ven­dor of 4G in­fra­struc­ture to China Tele­com and China Unicom. The company said that the launch of new LTE multi­band smart­phones will be driv­ing the growth as 4G de­vices that will ac­count for 40% of to­tal ter­mi­nals ship­ments in 2014. ZTE achieved strong per­for­mance in the United States, es­pe­cially in the pre­pay hand­set mar­ket, ben­e­fit­ing from the avail­abil­ity of new in­no­va­tive prod­ucts and co­op­er­a­tion with part­ners. ZTE has also bagged FDD-LTE li­censes in China, and has in­vested in 4G net­works in mar­kets such as Ja­pan and In­dia.

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