ZTE Q3 net profit up 18.4 pct year-on-year
Shanghai. October 28. INTERFAX-CHINA - Domestic telecommunications equipment provider, ZTE Corp. (ZTE) saw its net profit grow 18.4 percent to RMB 483.94 million ($72.30 million) for the third quarter of 2010, based on its financial results until Sept. 30, ZTE announced on Oct. 28.
Revenue for the third quarter was RMB 15.34 billion ($2.29 billion), up 1.33 percent year-on-year, according to the financial report.
For the first three quarters of 2010, the company recorded revenue of RMB 46.06 billion ($6.88 billion), up 7.51 percent year-on-year, with a net profit of RMB 1.36 billion ($203 million), up 14.21 percent year-on-year.
Revenue derived from the telecom operator's network construction unit saw a decrease of 2.58 percent year-on-year.
Terminal products saw a year-on-year increase of 30.53 percent over the period from January to September, bolstered by increased sales of 3G handsets and data cards.
ZTE will focus on broadband penetration in emerging markets and network upgrading in developed economies for the fourth quarter, the announcement said.