ZTE profits rise 36% in latest quarterly figures
Chinese vendor shows rise in sales and profits as it boosts R&D spend to $1.38bn in nine months
ZTE has seen sales go up 7% and profits up 36% in the first three quarters of the year.
The Chinese company made the equivalent of $588 million profit on sales of $11.54 billion, it announced this morning. It also reported positive operating cash flow of $156 million in the third quarter.
ZTE said its R&D spending had increased to $1.38 billion in the first nine months of 2017, equivalent to 12 % of revenue. ZTE’s increasing investment in innovative fields such as 5G, IoTand chips is leading the company to a number of technical breakthroughs, said the company.
It listed its NB-IoT chips, the industry’s first T-grade 5G flagship bearer platform, the industry’s first ultra-large capacity cross platform based on the optical transmission technology and the foldable smartphone Axon M launched in the US and Japan.
The company recently announced an innovation partnership with Orange, and cooperation with Italy’s Wind Tre and Open Fiber to build Europe’s first 5G pre-commercial network in the 3.6-3.8GHz band. Meanwhile, the company announced recently that it has teamed up with Telenet Belgium to complete the first FDD Massive MIMO field application in Europe, and successfully verified 1Gbps peak data rate in Pre5G Massive MIMO Test with SoftBank.