HONG KONG, March 27 China's ZTE Corp,
the world's No.5 telecommunications equipment maker, posted its
first annual net loss, totalling 2.84 billion yuan ($460
million), due to project delays and falling margins in emerging
The Shenzhen-based company swung to the red last year from a
net profit of 2.06 billion yuan in 2011, it said in a statement
ZTE flagged earlier this year that it would make a net loss
of up to 2.9 billion yuan in 2012, with 10 analysts polled by
Reuters expecting the figure to be at 2.67 billion yuan.
In the fourth quarter, its net loss was 1.1 billion yuan
compared with a net profit of 991.6 million yuan a year earlier,
according to Reuters calculations based on company data.
(Reporting by Lee Chyen Yee; Editing by Ryan Woo)