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Reuters Summit-ZTE Corp sees 30 pct revenue growth this yr

SHANGHAI, May 17 (Reuters) - China's No.2 telecommunications equipment maker ZTE Corp 0763.HK000063.SZ expects group revenue to grow by about 30 percent over the next few years, fuelled by the rapid rise of its cell phone unit, a top executive said.

“From the group’s perspective achieving 30 percent revenue growth is the minimium to give a good report to shareholders and investors,” said He Shiyou, ZTE’s head of cellphones, at the Reuters Technology Summit in Shanghai on Monday. “We hope that within five years, mobile phone revenue will form 50 percent of the group’s sales.”

He added that cellphone revenue was around 20 percent currently.

He also said he expected mobile phone revenue to grow 35 percent this year and that the company is working with China Unicom 0762.HK to launch a $150 smartphone based in Google's Android operating platform in June this year. (Reporting by Melanie Lee and David Lin)

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