ZTE Corporation posted a 13.8 percent increase in operating revenue for the quarter ended March 31, and net profit grew by 15.86 percent, to $19.37 million (U.S.)
The Chinese gear manufacturer said it stepped up efforts in its research and development of new products and technologies while continuing to explore new market opportunities. Internationally, the group sustained strong sales growth in developed countries and regions, including the European and U.S. markets.
The company says revenue generated by the segment represented by carriers' networks grew by 1.57 percent compared to the same period last year, reflecting an increase in sales of wireless systems, wireline switches and access systems.
Handset sales grew as well. Sales revenue from terminal products grew by 51.04 percent compared to the same period last year; that growth was primarily driven by revenue generated from the sales of 3G, GSM and CDMA handsets and data card products.
There was a slight decline of 0.26 percent, year-on-year, in the sales revenue of telecom software systems, services and other products, ZTE reported.
Yesterday, Chinese rival Huawei Technologies reported its full-year 2010 financial results that highlighted an increase in sales revenues of 24.2 percent over the previous year and a net profit that was up 30 percent from 2009.