ZTE profits grow

12 Mar 2003

Chinese equipment manufacturer ZTE Corp has announced a 7.8% year-on-year rise in profit for 2002. Net income rose to CMY567 million, from CMY525.8 million the year before, and sales rose 18% to CMY11 billion. Much of the growth has been attributed to ZTE’s prized contract for the supply of equipment to the country’s second largest telco China Unicom.