Handset sales bolster ZTE Q1 profit

Dylan Bushell-Embling
20 Apr 2011

Chinese vendor ZTE grew its first quarter profit 15.9% to 127 million yuan ($19.46 million) largely on the back of increased mobile device sales.

Revenue increased 13.8% year-on-year to 15 billion yuan. ZTE said revenue from terminal products, including 3G, GSM and CDMA handsets, was up 51%.

The company claimed its overall market share improved domestically, and that it saw strong sales growth in developed regions including Europe and the US, but did not provide figures.

Such markets were largely responsible for ZTE's 32% increase in 2010 profit, announced last month.

But in the first quarter, revenue from its carrier networks business grew just 1.57% year-on-year and telecom software and service sales declined slightly.

Huawei this week reported a 30% increase in 2010 profit to 23.8 billion yuan, with the company's new mobile devices business shipping 120 million units over the year.

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