HONG KONG Aug 20 Chinese telecom equipment
maker ZTE Corp on Wednesday posted a
record first-half net profit thanks to improving margins in its
global business and revenue from new contracts to build China's
next-generation telecom network.
The Shenzhen-based company said its first-half net profit
rose 263 percent year-on-year to 1.13 billion yuan ($184
million), up from 310 million yuan a year earlier.
The result was in line with a preliminary first-half net
profit of 1 billion yuan to 1.15 billion the company flagged in
In May, China Mobile, the world's largest carrier
by subscribers, awarded a significant portion of its 4G
next-generation telecom equipment contracts to ZTE, as well as
rival Huawei Technologies.
(1 US dollar = 6.1395 Chinese yuan)
(Reporting By Yimou Lee; Additional reporting by Twinnie Siu;
Editing by Matt Driskill)