ZTE net profit up 29.17 percents in Quarter 1

As a leading global provider of telecom equipment and network solutions in China, ZTE reported a 29.17% year-on-year increase in its net profit in the first quarter of this year. ZTE reported a net profit of RMB 1.66 billion for last year, up 33%, whereas it grew 63.26% in 2007.
In the first quater, ZTE’s revenue from the carrier network business increased 47% year on year,while income from sales of mobile handsets climbed 22.2%.The total revenue was RMB 78.66 million. In the same period, the company realized total operating revenue of RMB 11.67 billion, up 35% from a year earlier.The good results can be due to the 3G boom in China and the government’s stimulus package for the electronics and IT sector.
This news is from China Mobile Phone of China electronics manufacturer.

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