Chinese telecom device maker ZTE recently published its report for the first quarter of 2020.

According to the report, ZTE's operating revenue was CNY21.448 billion, market expectation was CNY22.503 billion, and the number was CNY22.202 billion in the same period of last year. Meanwhile, the company's net profit was CNY780 million, a year-on-year decrease of 9.58%.

In addition ZTE invested CNY3.241 billion in research and development in the first quarter of 2020, accounting for 15.1% of its total operating revenue. The ratio was 1.2 percentage points higher than the same period of last year.

By the end of the first quarter of 2020, ZTE had deployed 5G commercial business in major 5G markets in Europe, Asia Pacific, and the Middle East.

The company explored 86 5G innovative application scenarios and implemented over 60 demonstration projects with cooperation partners. In regards to device, ZTE launched its first 5G video smartphone Axon 11. The company continued to enhance 5G device cooperation with more than 30 carriers around the world.