SHENZHEN, China--(BUSINESS WIRE)--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.