China's leading telecom manufacturer ZTE Corporation has released its report for the third quarter of 2008, which says its net profit increased by 80.65% year-on-year to CNY258 million.
At the same time, the company says its revenue in the first nine months of 2008 was CNY30.33 billion, a year-on-year increase of 29.34%. Of which, the net profit belonged to its parent company was CNY816 million, increasing by 35.31% compared with that of the 2007's CNY603 million.
The report shows that the revenue of ZTE's wireless communication system products increased by 13.25% compared with the same period last year and the increase was mainly contributed by the growth of its GSM products. The sales of its cable exchange and access products realized a year-on-year increase of 154.78%, that of its optical communication and data communication products increased by 35.3%; and that of its mobile phone products increased by 26.06%.
In the fourth quarter of 2008, ZTE will start to supply goods for China CDMA and TD-SCDMA constructions as well as participate in the WCDMA tender and some major international projects. Relying on its advantage of being one of the top Chinese domestic firms providing these wares, ZTE says it will enhance cooperation with the world's mainstream operators, pay attention to the risk control in its overseas business and continue to improve the quality of its projects.