Overseas sales grow for ZTE

29 Nov 2004

Chinese equipment supplier ZTE Corp has revealed that overseas sales reached 13.4% of its total revenues of CNY10.2 billion in the fiscal first half of 2004, up from 8.5% a year earlier. The company, which ships wireless handsets to over 60 foreign countries – including India, Pakistan, Russia and Egypt – said it expected this figure to grow to around 40% by 2006. It plans to focus on the emerging markets, which it says have the highest potential for growth. ZTE has expressed concern over the increasing popularity of 3G handsets, which it fears could affect its PHS sales, but says it is developing products for all three main 3G technologies to keep up with the market.