ZTE reveals Q1 slump in net profit

28 Apr 2006

ZTE Corp, China’s second largest telecom equipment maker, has announced an 85% slump to CNY33.5 billion (USD4.2 million) in first quarter 2006 net profit. ‘There was a substantial decline in investment in PHS and CDMA networks as telecommunications carriers adjusted their total expenditure and investement structure,’ the company said in a statement.