Business Wire

ZTE

Share
ZTE 9-Month Net Profit Jumps 42% as Carrier Networks Sales Grow

ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, announced that net profit rose by more than 42% in the first nine months, driven by increased sales of optical network products and 4G LTE solutions to carriers.

Net profit attributable to shareholders of the listed company jumped to RMB 2.6 billion (US$409 million) in the first nine months, according to financial results released by ZTE today. Revenue increased by 16.5% to RMB 68.5 billion. Basic earnings per share climbed to RMB 0.63.

Revenue in ZTE’s Carriers’ Networks division rose by more than 22% in the first nine months as the company increased sales of 4G LTE infrastructure systems, optical network products, wireline switch and access systems globally. Revenue from Telecommunications software systems, services and other products increased by 45.8%, helped by higher sales of video and network terminal products.

ZTE was the world’s fastest-growing provider of wireline broadband equipment, according to latest data by telecommunications consultant Ovum. ZTE was the world’s second-biggest provider of passive optical network (PON) solutions, according to Ovum.

Under the M-ICT strategy, ZTE is focused on innovations in converged end-to-end solutions integrating the company’s world-leading capabilities in telecommunications and information technology to deliver increased value to customers. The M-ICT strategy is driving growth in ZTE’s business operations in the Enterprise and Government ICT Solutions division, as the company captures opportunities emerging in the adoption of mobility, cloud computing and Big Data technologies in Smart City metropolitan projects, healthcare, education and mobile commerce.

As one of the world’s leading providers of 4G LTE solutions, ZTE is leading the industry globally in the research on Pre5G and other next-generation technologies. The company is working with customers around the world on the commercialization of ZTE’s proprietary Pre5G solution, which enables carriers to emulate the characteristics of 5G networks on existing 4G-based infrastructure.

ZTE is committed to implementing the M-ICT strategy in the company’s three main operations of Carrier Networks, Enterprise Business and Mobile Devices. In Carriers’ Networks, ZTE will be committed to developing solutions for smarter networks to support carriers in their transformation into information-based operations.

In Enterprise Business, ZTE will actively support the adoption of “Industry 4.0” or “Industrial Internet” by enterprises and industry verticals, delivering increased operational efficiency and productivity to customers. ZTE will focus on strengthening innovations in key technologies including Cloud Computing, Internet of Things, Big Data, and Smart Cities. In the Mobile Devices division, ZTE is committed to innovations in user-centric consumer technologies and the expansion of sales and distribution channels globally.

About ZTE

ZTE is a provider of advanced telecommunications systems, mobile devices, and enterprise technology solutions to consumers, carriers, companies and public sector customers. As part of ZTE’s M-ICT strategy, the company is committed to provide customers with integrated end-to-end innovations to deliver excellence and value as the telecommunications and information technology sectors converge. Listed in the stock exchanges of Hong Kong and Shenzhen (H share stock code: 0763.HK / A share stock code: 000063.SZ), ZTE’s products and services are sold to over 500 operators in more than 160 countries. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in international standard-setting organizations. ZTE is committed to corporate social responsibility and is a member of the UN Global Compact. For more information, please visit www.zte.com.cn .

./ContentItem/Format

ZTE announced that net profit rose by more than 42% in the first nine months, driven by increased sales of optical network products

Contact:

ZTE Corporation
Margrete Ma, +86 755 26775207
ma.gaili@zte.com.cn
or
Edelman PR
Mark Lee, +852 2837 4756
mark.lee@edelman.com
Daisy Yu, +852 2837 4796
daisy.yu@edelman.com

Link:

ClickThru

Social Media:

http://www.facebook.com/ZTECorp

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

MCF Corporate Finance Serves as Exclusive Financial Advisor to Seacross Marine AB (“SeaCross”), a Leading International Provider of Navigation Software for High-Speed Marine Operations, on Its Sale to Adelis Equity’s Defence Technology Group19.9.2024 11:47:00 CEST | Press release

MCF Corporate Finance ("MCF") today announced its role as the exclusive financial advisor to the shareholders of SeaCross, a leading international provider of navigation software for high-speed marine operations, on its sale to Adelis Equity. This transaction marks the second investment in Adelis Equity’s recently established defence technology group. "The decision to hire MCF as financial advisors was crucial in finding the best possible partner for SeaCross and supporting the company's growth journey ahead," said Harald Nilsonne, Founder and Chairman of SeaCross. "Throughout the process, they demonstrated an exceptional understanding of our business, software, and niche within the defence technology market. MCF’s strategic and steadfast advice, both before and during the process, ensured we found the right partner in Adelis." SeaCross, renowned for its advanced high-speed marine navigation systems, is poised to enter a new phase of growth with Adelis Equity’s backing. The strategic p

Cities in Finland Working Together to Reconcile Development and Biodiversity19.9.2024 11:14:00 CEST | Press release

Cities in Finland want to encourage cities to help preserve nature internationally. The leaders of Finland’s 10 largest cities commit to concrete targets for halting the loss of biodiversity. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240919977440/en/ Cities in Finland want to encourage cities to help preserve nature internationally. The leaders of Finland’s 10 largest cities commit to concrete targets for halting the loss of biodiversity. Photo: Visit Tampere, summer colors in Arboretum. Drone: Laura Vanzo. Urbanisation and increasingly dense development weaken local nature. As Finland is famous for its clean nature, its growing cities want to maintain their residents’ connection with nature. The mayors of the 10 largest cities in Finland commit to working together to stop the loss of biodiversity. City leaders promise to take care of the parks, forests and water areas in their cities. Concrete actions and targets to ha

The NAGA Group expands addressable user base with launch of first-ever trading app integrated into Telegram messenger19.9.2024 11:10:00 CEST | Press release

The NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the all-in-one financial SuperApp NAGA, is launching the first-ever fully integrated trading app within the Telegram ecosystem, in a bold move that could redefine how retail investors engage with the financial markets. In doing so, NAGA will gain immediate access to Telegram’s 950 million user base, positioning it to capitalize on a vast and untapped audience. A move that establishes NAGA as a first mover in a new space, providing significant potential for user growth and subsequent revenues. The “NAGA Everything Trading” app is natively integrated into the Telegram ecosystem, offering the full trading features of the NAGA SuperApp whilst enabling seamless onboarding, customer KYC and deposit capabilities directly in the messenger app. This unique extension offers a frictionless trading experience to the millions of monthly active users of Telegram. Moreover, users registering via the Telegram app will also have immediate

Stressed, anxious, excited – CIOs' state of mind in 2024, according to research from Expereo19.9.2024 10:03:00 CEST | Press release

60% of global respondents say their focus on AI has boosted their personal reputation147% also say their board has unrealistic demands regarding the impact of AI139% felt their job is more stressful or negative because of their added profile1 Technology leaders from large global enterprises are feeling the pressure as AI becomes a major force of innovation and disruption, according to the IDC InfoBrief, commissioned by Expereo, Enterprise Horizons 2024: Technology Leaders’ Priorities on Their Digital Business Journey*, which reveals that 64% of global respondents find it challenging and/or stressful to meet the technology demands of the business, and that AI is a key source of both pressure and opportunity. The paper reveals that AI has raised the profile and expectations of technology leaders at board level – a double-edged sword for many senior technology decision-makers. While 60% of global respondents say their focus on AI has boosted their personal reputation, 47% also say their b

HORNBACH Baumarkt Selects Blue Yonder To Accelerate Its Omni-Channel, Customer-Centric Strategy19.9.2024 09:00:00 CEST | Press release

Leading German DIY retailer will leverage Blue Yonder Commerce microservices to provide customers with innovative “order by, get by” promising and order fulfillment optimization to improve customer satisfaction Today, retail offers a wide range of opportunities. Retailers must consistently focus on the needs of their customers if they want to be successful – even in the future. Tech innovation is accelerating. Consumers want to be free to decide whether they want to shop in the store or via smartphone or computer. Optimally, it should all be connected. Retailers are looking to innovate, add new services, and deliver experiences that consumers love, but they often face a costly and expensive fix because their tech stack was not built for modern experiences with efficiency in mind. That’s why, as a pioneer in innovation and one of the leading DIY retailers in Europe, HORNBACH Baumarkt has selected Blue YonderInventory and Commits Services, part of Blue Yonder Order Management solutions.

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye