ZTE's 2014 gets off to good start as profit up 204%

The company is also projecting a profit jump of 158 percent to 223 percent for the first half of the year.

zte-logo-001270x180.jpg

China-based mobile firm ZTE watched its financial performance soar in the first quarter, and it expects much of the same in the coming months.

ZTE's profit during the first quarter hit 622 million yuan ($100 million), increasing nearly 204 percent compared with the same period in 2013. Revenue was up 5.5 percent to 19.05 billion yuan year over year.

ZTE has become a powerhouse in China's telecommunications space. The company makes wireless equipment for carriers, as well as mobile devices. Last week, the company had said that it expected to post strong improvements in profits due to "higher-margin contracts."

Looking ahead, ZTE expects more of the same. The company says that its first-half profit is expected to be up between 158 percent and 223 percent compared with the same period in 2013.

CNET has contacted ZTE for comment. We will update this story when we have more information.

Tags:
Mobile
About the author

Don Reisinger is a technology columnist who has covered everything from HDTVs to computers to Flowbee Haircut Systems. Besides his work with CNET, Don's work has been featured in a variety of other publications including PC World and a host of Ziff-Davis publications.

 

Join the discussion

Conversation powered by Livefyre

Don't Miss
Hot Products
Trending on CNET

HOT ON CNET

How well do you know your surge protector?

Whether you're looking to add more outlets, or want to add a layer of protection between your gear and the outside world, here's what you need to know.