ZTE sees profit rise 27.8% in 1Q17

ZTE Corp. (0763.HK / 000063.SZ) reported profits of RMB 1.21 billion ($175.87 million) in the first quarter of 2017, an increase of rose 27.8%. Increased sales of carrier network equipment and smartphones drove the profit uptick. Quarterly revenues of RMB 25.75 billion ($3.74 billion) represented 17.8% growth, the company added.

ZTE Corp. (0763.HK / 000063.SZ) reported profits of RMB 1.21 billion ($175.87 million) in the first quarter of 2017, an increase of rose 27.8%. Increased sales of carrier network equipment and smartphones drove the profit uptick. Quarterly revenues of RMB 25.75 billion ($3.74 billion) represented 17.8% growth, the company added.

In the wireline arena, ZTE says that shipments of set-top boxes grew more than 25% during the quarter. The company asserted it also is growing market share Rich Communications Suite (RCS) and cloud-computing markets. It also continues momentum in PON; ZTE says it won 75% of a recent tender from China Mobile. ZTE also announced a 5G Flexhaul platform for optical support of next-generation wireless network requirements.

The quarter also marked ZTE's exit from the U.S. Department of Commerce's export restrictions list (see "ZTE admits guilt, settles export squabble").

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