HONG KONG, March 29 ZTE Corp
, China's second-largest telecommunications
equipment maker, said on Thursday that limitations on its
business operations in Iran will have little impact on overall
President Shi Lirong, speaking at a news conference after
the company announced its financial results for 2011, said ZTE
was not a mainstream telecoms gear supplier in Iran.
ZTE said on Wednesday that October-December net profit slid
to 991 million yuan ($157 million), down 48 percent from 1.89
billion yuan a year earlier.
Shares in ZTE had risen nearly 5 percent by 0346 GMT,
outpacing a 1 percent drop in the broader Hang Seng Index
, amid market expectations for an improved outlook.
Reuters reported last week that ZTE had entered into a $131
million contract with Telecommunication Co of Iran in December
2010, which sources said included a surveillance system capable
of monitoring telephone and Internet communications. ZTE has
said it is no longer seeking to expand in Iran.