ZTE has posted a 29.8% growth in net profit for the first six months of the year as a result of strong mobile network and smartphone sales.
The Chinese vendor's net profit for the period grew to 2.29 billion yuan, on the back of a 13.1% increase in revenue to 54.01 billion yuan. Carrier networks revenue accounted for 59.9% of total revenue.
In the wireless segment, ZTE said it has now deployed over 60 pre-5G networks and 240 SDN and NFV networks globally. In wireline networks ZTE secured contracts with operators from Germany, Spain, Japan, Russia, Thailand and China.
Smartphone sales meanwhile grew 15% due to growth in shipments to Australia, Germany, Canada and Spain.
During the quarter ZTE also ramped up its R&D spending to 6.68 billion yuan, or 12.4% of revenue, taking total R&D spending for the past 12 months to over 10 billion yuan.
The company is focusing its investments on 5G, IoT and coud computing, and was recently ranked number 1 in the World International Property Organition's latest annual list for patent applicatio. ZTE aims to take a leading role in 5G standardization and commercialization efforts.ns.
During the the period ZTE also established its domestic enterprise business segment, focused on rail transit deployment, financing and government projects.
Dylan Bushell-Embling August 25, 2017 telecomasia.net
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