ZTE Q3 operating revenue declines

Telecoms

by CBR Staff Writer| 26 October 2012

The company reported a net loss of RMB1.94bn ($312m) for the quarter

Telecom firm ZTE has reported an operating revenue of RMB18.09bn ($2.8bn) for the third quarter of 2012, a fall of 13.13% from RMB20.82bn ($3.3bn) for the same period last year.

The company reported a net loss of RMB1.94bn ($312m) for the third quarter of 2012, compared to a net profit of RMB299.27m ($47.97m) for the corresponding period in 2011.

The net loss figure was in line with ZTE's own estimate released earlier in October this year of a loss between RMB1.9bn ($3bn) and RMB2bn ($3.2bn).

Operating loss was RMB2.6bn ($4bn) for the quarter, compared to RMB602.2m ($96.5m) in the year ago period.

Recently, ZTE had released the new personal computer based capacity planning tool for LTE networks that offers users professional and systematic support for developing maximised performance networks.

Earlier this month, the US House of Representatives' Intelligence Committee had said that China-based telecom firms including Huawei and ZTE should be barred from doing business in US market as they pose a security threat to the country.

US-based Cisco Systems has terminated a seven year sales collaboration with ZTE, following allegations that the Chinese telecommunications equipment manufacturer sold Cisco's networking equipment to Iran.

Comments
Post a comment

Comments may be moderated for spam, obscenities or defamation.

Join our network

745 people like this.
0 people follow this.

Telecoms Intelligence

Buy the latest industry research online today!
See more

Suppliers Directory

Privcy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.