ZTE Record 94 Percent Increase In Profits For Last Year, Thanks To 4G Expansion And Smartphone Sales

ZTE is one of those companies that you might not have experienced first hand or seen very much of in the past and yet, have heard quite a lot about. This is because, like Huawei and Xiaomi, ZTE are achieving big things in their domestic China market. However, like Huawei and Xiaomi, ZTE are not content on sticking to their own borders and instead have made their intentions clear to broaden their enterprise reach to other countries. A good example of this branching out occurred a couple of months ago when ZTE released the ZTE Blade S6 4G smartphone. This was compatible with a number of European 4G networks and as such offered European customers a fairly decent mid-range device at a low price.

In fact, it would seem that their approach to 4G, and in particular in their domestic market is helping the Chinese company to see big growth in their net profits. The company today released a press release (source link below) which details a 94% increase in their net profit for 2014. Two reasons given for this increase was (a) their domestic 4G service and (b) their expansion of their smartphone sector in foreign markets.

According to the press release, 2014 saw ZTE record profits of 2.63 billion yuan (which equates to $423 million). This was up from what was previously recorded in 2013 as 1.36 billion yuan. Likewise, the company also saw an increase in their operating profit which rose to 81.4 billion yuan (an 8.3% increase). In terms of the future, it seems going forward ZTE looks set to focus on new technologies. The press release details that the company's laboratory section plans to work on areas involving smart voice, artificial intelligence, wireless charging, Internet banking and mobile payments. Not to mention, the company are also expecting decent sales domestically from their ZTE Grand S3 device, which is the first smartphone to feature EyeVerify retina biometrics. You can read the press release by ZTE in full by clicking the source link below. Alternatively, check out the infographic the company released today along with the press release detailing how 2014 has gone for them.

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About the Author

John Anon

John has been writing about and reviewing tech products since 2014 after making the transition from writing about and reviewing airlines. With a background in Psychology, John has a particular interest in the science and future of the industry. Besides adopting the Managing Editor role at AH John also covers much of the news surrounding audio and visual tech, including cord-cutting, the state of Pay-TV, and Android TV. Contact him at [email protected]