ZTE profit climbs - Mobile World Live

ZTE profit climbs

24 APR 2023
ZTE logo pictured on a purple-blue background

Chinese equipment vendor ZTE registered double-digit profit growth in Q1 2023 despite challenges caused by a volatile external environment, as the company moved to streamline operations.

In a statement, ZTE explained it aims to become more resilient and adaptable by better positioning its business, more efficiently allocating resources and continuously optimising processes.

ZTE also vowed to take advantage of growth opportunities created by digital transformation in domestic market, China, and the adoption of new AI applications.

Net profit attributable to shareholders rose 19.2 per cent year-on-year to CNY2.6 billion ($377.3 million), despite booking CNY409.3 billion in asset impairment losses.

Revenue increased 4.3 per cent to CNY29.1 billion.

Consolidated operating expenses fell 6.9 per cent to CNY16.1 billion.

R&D spending grew 26.2 per cent to CNY5.9 billion.



Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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