ZTE earnings for 1Q17 show positive movement
Operation earnings were up 17.8 percent year-on-year to ¥25.75 billion or about $3.7 billion, resulting in a ¥1.21 billion profit for the first quarter of the fiscal year.
The company has improved on sales of its backhaul products. ZTE’s 5G servers make up 70 percent of China Mobile’s data centers. It’s also gaining ground in RCS messaging infrastructure and is churning out IoT chipsets as well.
While the company acknowledges its global smartphone releases, its opaque financial reporting doesn’t disclose any sector-specific figures. We do know that it’s taking 3,000 employees off the mobile division’s payroll this year and that it will be accountable to a $1.2 billion fine by the US government for its unlawful trade with Iranian companies. The company’s certainly not ready to rest on its laurels yet.