Growth at Chinese vendor’s consumer and carrier networks businesses boosts first-half figures.
ZTE posted strong growth in revenues and net profit in the first half of the year, buoyed by the performance of smartphone sales at its consumer business.
The consumer segment, which accounts for a third of the Chinese vendor’s top line, reported year-on-year revenue growth of 24.1% to 17.89 billion yuan in the first six months of 2017.
Handset sales in the international market and sales of home terminals in China drove consumer growth, ZTE said.
ZTE’s carrier networks business also turned in a solid performance, with revenue increasing by 12.6% to CNY32.35 billion, but its government and corporate business area struggled, with revenues sliding by 18.3% to CNY3.77 billion.
4G growth in China and sales of wireless equipment in Europe were the big drivers here.
At group level the vendor reported revenues of CNY54.01 billion (€6.9 billion), up 13.1% on-year, and a net profit of CNY2.29 billion, up by a sizeable 29.8%.
China remains by far ZTE’s largest market, accounting for almost 60% of revenue in the first half of the year, but it is building its presence elsewhere. It reported 24.8% revenue growth at its Europe, Americas and Oceania business, which contributed CNY12 billion to turnover.