2014 was the year of the Chinese manufacturer without a doubt. So many relatively unknown Chinese manufacturers went from essentially unheard of to big names throughout the world in 2014, and one of the biggest success stories of the year was ZTE. ZTE has been known for creating high quality phones at low prices relative to what's normally available on the market, and they've been particularly growing in North America with the prepaid carriers like Cricket in the US and Fido in Canada. Near the end of 2013 there was quite a bit of tension between the US and Chinese governments and it looked like Huawei and ZTE might not be in the running for too long in the US in particular, however that rumor has been turned on its head completely with this latest news.
In a record year for ZTE the Chinese manufacturer is forecast to post a 94.2 percent growth in full-year profit. This is of course thanks to the slew of excellent phones ZTE has been churning out, with phones like the all voice controlled Star2 or the super powerful Nubia Z7, all coming in at under $400 no matter which model you choose. On top of that ZTE has been a key player in the 4G LTE rollout across mainland China, offering lots of new handsets at super low prices with blazing network speeds for everyone. This has become the motto of the company and it's working out well for them as you can imagine.
Moving further into the numbers, operating revenue made a slight jump from 75.23 billion RMB in 2013 to 81.24 billion RMB in 2014, marking an 8 percent jump. Net profit was the big headliner here making a massive jump from a respectable 1.36 billion RMB in 2013 to a whopping 2.64 billion RMB in 2014, which is the 94.2 percent increase ZTE is cheering over in this press release. ZTE is also saying that gross profit margin improved during the year as they made further business optimizations and had more profitable contracts. Lastly they've attributed more effective management practices and foreign exchange exposure as further help to the bottom line. Essentially ZTE has become a lean and mean company that's ready to take on the biggest players out there, and their 2015 lineup could prove to be even more incredible if they keep at the current pace.