On July 14 2014, ZTE raised its forecast for first-half profit as the company maintained the strong momentum in its 4G infrastructure operations.
Net profit attributable to shareholders of the listed company will be between RMB 1 billion and RMB 1.15 billion in the first six months, an increase of between 223% and 271% from a year earlier, according to the revised guidance published by ZTE. This compared with earlier guidance of between RMB 800 million to RMB 1 billion.
(Reuters) - Chinese telecom equipment maker ZTE Corp on Monday raised its earnings guidance for the first half of 2014, citing improving margins in its global business as well as revenue from new contracts to build China's next-generation telecoms network.
The Shenzhen-based company said it expected first-half net profit of between 1 billion yuan ($161.1 million) and 1.15 billion, having previously forecast between 800 million and 1 billion.
In May, China Mobile, the world's largest carrier by subscribers, awarded a significant portion of its 4G next-generation telecom equipment contracts to ZTE, as well as rival Huawei Technologies.
Meanwhile ZTE has been pushing aggressively into the high-end smartphone and tablet market, in response to rising competition from low-cost, low-margin handset makers emerging in China. ($1 = 6.2059 Chinese Yuan) (Reporting by Beijing Newsroom)
(Reuters) - Chinese telecom equipment maker ZTE Corp on Monday raised its earnings guidance for the first half of 2014, citing improving margins in its global business as well as revenue from new contracts to build China's next-generation telecoms network.
The Shenzhen-based company said it expected first-half net profit of between 1 billion yuan ($161.1 million) and 1.15 billion, having previously forecast between 800 million and 1 billion.
In May, China Mobile, the world's largest carrier by subscribers, awarded a significant portion of its 4G next-generation telecom equipment contracts to ZTE, as well as rival Huawei Technologies.
Meanwhile ZTE has been pushing aggressively into the high-end smartphone and tablet market, in response to rising competition from low-cost, low-margin handset makers emerging in China. ($1 = 6.2059 Chinese Yuan) (Reporting by Beijing Newsroom)
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