ZTE sees sales climb, profits fall

ZTE sees sales climb, profits fall
Today, Chinese smartphone manufacturer, ZTE, reported that it had revenue of 86.25 billion yuan in 2011. Those sales, which are equivalent to approximately $13.67 billion in US dollars, are up 23.4 percent over the previous year.

ZTE states that it is now the “second-fastest-growing smartphone manufacturer in the world” and the “fourth-largest mobile phone maker overall.

ZTE saw sales climb in multiple markets around the world, including its home turf in China, as well as markets that it has recently been making an effort to become more prevalent in, such as the United States.

Even though this growth in sales was so widespread, ZTE’s profits declined to 2.06 billion yuan, or $326.5 million US, which is over a third less than the previous earnings period.

source: AllThingsD

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