ZTE Corp, China's second-biggest telephone-equipment maker, said
2007 profit increased 50 percent to 70 percent, fueled by rising
sales overseas.
The company posted a profit of 807 million yuan (US$112 million)
in 2006, or 0.84 yuan a share, ZTE said in a statement to the Hong
Kong Stock Exchange. It didn't give a figure for 2007 profit.
ZTE won contracts from carriers in Tunisia, India, and Portugal
last year by selling equipment for as much as 30 percent less than
rival Ericsson AB, Steven Liu, an analyst at DBS Vickers Ltd, told
Bloomberg News. Sales from outside China would surpass its domestic
revenue for the first time in 2007, the Shenzhen, south China-based
company said in June.
The company's Hong Kong-listed shares rose 5.4 percent to
HK$37.20 (US$4.76) at the end of trading on Friday. The
Shenzhen-listed shares fell 0.1 percent to 79.55 yuan.
ZTE is scheduled to announce its earnings for 2007 on March 20
in Shenzhen.
(Shanghai Daily January 28, 2008)
