ZTE sees 43 percent increase in profits during first half of 2015
Chinese telecommunications giant ZTE has announced an increase in profits by 43.2 percent to 1.62 billion RMB (223.89 million Euros) during the first six half of 2015. Revenue has climbed 21.8 percent to 45.9 billion RMB (6.343 billion Euros) and earnings per share rose to 0.47 Yuan (6.5 cents) following the announcement.
While ZTE is not the largest manufacturer of smartphones, its rapid growth during H1 2015 can be attributed to strong sales in key regions such as Asia, Latin America, Europe, Middle East, and Africa. In addition, ZTE has made claims to push into the U.S. market. Its smartphone division achieved a turnover of 9.96 billion RMB (1.376 billion Euros) during the same period.
As for the rest of 2015, ZTE will be introducing a new Axon smartphone. The Axon Mini is expected to come this September with Force Touch technology in order to differentiate between light and hard taps. Apple currently utilizes the technology for its Apple Watch and is even predicted to come standard with the iPhone 6s and Huawei Mate S.
Aside from smartphones and mobile, ZTE has reported success in its 4G LTE services. Its Cloud Radio and Magic Radio services have helped bolster its presence in 4G-enabled networks. In addition to its healthy wireless network, the telecommunications company is also reporting growth in its Wireline (landline) division as it continues to expand into optical fiber.