ZTE eyes new markets after profit boost

PUBLISHED : Friday, 18 March, 2011, 12:00am
UPDATED : Friday, 18 March, 2011, 12:00am

ZTE Corp, the mainland's second-largest telecommunications equipment maker, plans a foray into the semiconductor and emerging cloud computing markets after posting hefty gains last year. The Shenzhen-based firm yesterday reported a 32.2 per cent rise in net profit last year to 3.25 billion yuan (HK$3.85 billion), up from 2.46 billion yuan in 2009. Revenue climbed 16.6 per cent to 70.26 billion yuan.