Wednesday, 18 September 2019

ZTE swings to profit after a tumultuous 2018/19

By Chris Kelly, Total Telecom
Tuesday 27 August 19

ZTE is the world's fourth biggest network equipment provider

Chinese network equipment provider, ZTE, has posted an $85 million profit in the second quarter of the 2019/20 financial year. Last year, ZTE was handed a gargantuan fine by and was ordered to restructure its board…

Chinese network equipment provider, ZTE, has posted an $85 million profit in the second quarter of the 2019/20 financial year.

Last year, ZTE was handed a gargantuan fine by and was ordered to restructure its board, after it violated US export rules. As a result, ZTE posted a $335 million loss this time last year.

ZTE has shown remarkable resilience to bounce back as quickly as it has, and has made real headway in the 5G market, signing launch deals with more than 25 mobile network operators around the world.

Buoyed by its strong performance in the 5G market, revenues stood at $3.1 billion in the second quarter of 2019, up by 188 per cent on last year's figures.

ZTE will be looking forward to a sustained period of growth as it looks to leverage demand in the international and domestic 5G markets.

"The company will adhere to innovation in core technologies and focus on 5G end-to-end deployments, so as to maintain the sustainable development of innovative strength and achieve quality growth at the peak of 5G investment and construction," a ZTE spokesman told members of the press. 

 

ZTE has been shortlisted for an award at the World Communication Awards 2019.  Click here to view the full shortlist. 

Also in the news:

UK govt to make long-term decision on Huawei by autumn 

Xiaomi ships 32m smartphones but misses Q2 targets

ZTE and Drei explore 5G tourism use cases in Austria

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