ZTE meets fierce competition in the mobile industry, half yearly profits decline for the first time in four years

Chinese ZTE entered the top 5 phone makers in the world with a splash last year and it’s continuing its growth with revenue increasing quickly in the first half of the year, but at a costly price as it net profits declined for the first time in four years. Revenue in the first semester amounted to some $5.7 billion (37.3 billion yuan), a 21.5% growth year on year, but net profit was down 12.4% to 769.3 million yuan compared to 877.5 million in the first half of 2010.
At its home Chinese market, ZTE is facing fierce competition from Huawei Technologies, but ZTE has recently upped the ante on the global scene with aggressive pricing trying to get traction among the top five and sell cheaper th... »read more

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