Chinese telecom equipment maker ZTE on Tuesday reported a profit rise in the first quarter on improved sales and margins.
In a filing to the Shenzhen Stock Exchange, the company reported a year-on-year profit increase of 27.8 percent during January-March.
Net profits totaled 1.2 billion yuan (180 million U.S. dollars). Sales revenue jumped 17.8 percent to 25.8 billion yuan, up 17.8 percent from the same period a year ago. Earnings per share were 0.29 yuan.
The company said shipments of chipsets in the first quarter increased over 70 percent from the same period a year ago.
To strengthen its position in 5G research, it is on track to start 5G-commercial deployments in the third quarter of 2018.
The quarterly results are its first financial report since the company was removed from the U.S. trade blacklist on March 29.
Latest comments