ZTE's Profits Recovered in 2013 on Declining Revenue (-10.6%)

ZTE reported a net profit of RMB 1.36 billion in 2013, or RMB 0.39 per share, compared with a loss a year earlier. The company declared a cash dividend of RMB 0.3 (including taxation) for every 10 shares held, representing 75.8% of total net profit of the year available for distribution. Revenue fell 10.6% to RMB75.2 billion (US$12.1 billion).

Some highlights:

Operating revenue from the mainland China market reached RMB35.63 billion, accounting for 47.4% of the company’s overall operating revenue.
Operating revenue from international operations reached RMB39.60 billion, accounting for 52.6% of overall operating revenue.
The company reported relatively fast growth in operating revenue from wireline switch and access products.
Operating revenue from terminal products decreased as a result of lower demand for feature phones and data cards.
Smartphones and other smart terminal products now contribute a bigger percentage of total revenue, driven by the rapid development of the Mobile Internet.

http://wwwen.zte.com.cn/en/press_center/news/201403/t20140326_421907.html

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Every article published by Converge Digest is researched, curated, fact-checked and editorially reviewed by Jim Carroll, Editor & Publisher. AI-assisted drafting may be used to accelerate production, but all content is reviewed, refined and approved prior to publication.