China’s ZTE Reports H1 Net Profit Of $35.8 Million, Slides 68 Percent

Posted on Aug 22 2012 - 9:26am by Editorial Staff

Reuters is reporting that Chinese mobile maker company ZTE today reported its first half net profit dropped by more than total of two thirds i.e. January – June net profit seen a downturn to 244.88 million yuan (about $38.5 million) from 769 million yuan a year ago, but according to seven analysts polled by Reuters, the company beat a forecast of 223.6 million yuan. ZTE earlier urged that it aims to sell around 35 million smartphones unit by 2012, and even more planning to become number 3 phone vendor by 2015. The company shares earlier closed down 0.2 percent, outperforming a 1.1 percent drop.

 

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.