4G pushes ZTE profits higher in Q1 2014

ZTE has reported that its first quarter profit more than tripled as the company said it posted increased revenue amid growth in the global 4G market.

Net profit attributable to shareholders of the listed company was RMB622 million (US$100 million) in the first quarter, an increase of 203.5 per cent from a year earlier, and at the higher end of forecasts released by the company a couple of weeks ago.

Revenue rose 5.5 per cent to RMB 19.5 billion.

The company also forecast that first half profits will rise by between 158-223 per cent.