ZTE on Thursday confirmed that its full-year net profit almost doubled in 2014.
The Chinese vendor last year earned 2.63 billion yuan (€385 million), up 94% on 2013. The figure is in line with guidance published by ZTE in January.
Operating revenue grew to CNY81.5 billion (€11.9 billion) from CNY75.2 billion, while operating profit rocketed 104% to CNY60.3 billion. ZTE attributed the performance to strong demand for 4G network equipment and handsets in both China and international markets.
ZTE generated revenue of CNY40.58 billion in China in 2014, accounting for 49.8% of total revenue. The remaining 50.2%, or CNY40.89 billion, was generated abroad.
ZTE "has formed comprehensive partnerships with mainstream global carriers as it continued to focus on major populous nations and mainstream global carriers and bolster its competitiveness on all fronts," the company said in a statement.
Revenue at ZTE’s carrier networks division grew 14.9% to CNY46.8 billion, while its handset division saw revenue increase by 6.52% to CNY23.1 billion.
Looking ahead to 2015, ZTE said it expects to see continued growth in de mand for 4G capacity, and further development in human-to-machine, and machine-to-machine (M2M) communications, as well as cloud computing and big data.
"To address the aforesaid challenges and opportunities in 2015, the group will focus on the three mainstream markets of carriers, government, and corporate sectors and consumers," ZTE said.
