Chinese telecom equipment supplier ZTE’s (0763.HKG, 000063.SHE) first-half net profit rose 23% thanks to the sale of a subsidiary, while a drop in revenue shows that the company continues to face difficulties, The Wall Street Journal reported. ZTE said Monday that a drop in telecom equipment, handset and data card sales were to blame for a 12% decline in revenue for the six months ended June 30. ZTE expects sales to increase as telecom companies operators like China Mobile are likely to ramp up their investments to build faster fourth-generation, long-term-evolution networks.
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