ZTE records US$23 million net profit in Q1

China’s ZTE has reported operating revenue of US$2.96 billion in Q1 2012, an increase of 29.46 per cent over the same period last year. Net profit was US$22.99 million, an increase of 23.85 per cent over the same period last year.

ZTE’s revenue generated by carrier networks rose by 13.65 per cent compared to the same period the previous year, a reflection of an increase in revenue generated from sales of optical and data communications products. Terminal product revenues were up 27.33 per cent compared to the same period last year, driven primarily by sales of 3G handsets. The company says that it saw a large increase in sales of services and fixed terminals during the quarter.