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Network, smartphone sales dive ZTE revenue

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ZTE has posted a 27,8% rise in first-quarter profit as the company increased sales of carrier network solutions and smartphones.
Net profit attributable to holders of ordinary shares of the listed company jumped to RMB 1,21-billion in the first three months, according to ZTE’s quarterly results announcement today. First-quarter revenue increased 17,8% to RMB 25,75-billion.
In the first quarter, ZTE posted more than 25% growth in shipments of set-top-boxes as the company’s Big Video business continues to strengthen. ZTE is also gaining market share in Rich Communications Suite (RCS) and Cloud-Computing solutions, as the company leverages innovations in network cloudification and artificial intelligence.
In IoT (Internet of Things), ZTE’s self-developed chipsets posted 70% year-on-year growth in shipments in the first quarter.