11 May 2009, Shenzhen, China - International research firm IDC recently released an Insight Report revealing that ZTE Corporation ("ZTE" or the "Group") (H share stock code: 0763.HK / A share stock code: 000063.SZ) was the fastest growing telecom equipment and solutions provider in 2008 among the publicly traded major telecom vendors worldwide. IDC based its findings on 2008 earnings results.
IDC highlighted in its report that ZTE's 2008 revenues reached US$6.5 billion (RMB 44.3 billion), up approximately US$1.4 billion from 2007's US$5.1 billion (RMB 34.8 billion). Overall revenues rose by 27%, while its wireless business experienced exceptional growth of 20% compared to last year. These sterling earnings results, which according to IDC offer a contrast with rest of the industry, make ZTE stand out among other international telecom equipment companies in spite of the challenging business climate amidst the global financial crisis.
IDC's report further indicated that ZTE's wireless business, including sales of infrastructure, handsets, software and services and other wireless related items, amounted to 38.5% of the company's total revenues. This business segment grew from US$2.1 billion in 2007 to approximately US$2.5 billion in 2008. Over the past five years, ZTE's wireless business more than doubled its revenues.
The rapid deployment of 3G networks in China is expected to establish an estimated 660,000 3G carrier frequency by mid-2009. In the 3G tender bids offered by China's three largest telecom operators, ZTE has secured approximately 30% of the total local market, positioning itself the clear leader in China's 3G industry.
"We take pride in receiving the distinction of being 2008's fastest growing telecom vendor, as recognized by IDC," stated Mr. Yin Yimin, President of ZTE Corporation. "This only shows that ZTE's commitment to spearheading R&D initiatives, coupled with our determination to innovate and introduce high quality telecom equipment solutions, is paying off. With a strong global workforce ready to provide the best technical support to our customers, we believe ZTE will remain a key player in the highly competitive telecom market in the years ahead."
About ZTE
ZTE is a leading global provider of telecommunications equipment and network solutions. It has the widest and most complete product range in the world - covering virtually every sector of the wireline, wireless, service and terminals markets. The company delivers innovative, custom-made products and services to over 500 operators in more than 140 countries, helping them to achieve continued revenue growth and to shape the future of the world's communications. ZTE commits around 10% of its annual turnover to research and development and takes a leading role in a wide range of international bodies developing emerging telecoms standards. ZTE leads China's 3G industry with about 30% share of the total 3G equipment market in 2008. A company with a sound corporate social responsibility (CSR) initiatives, ZTE is a member of the UN Global Compact that strictly adheres to the Ten Principles of the Global Compact in developing and carrying out CSR programs. ZTE is China's only listed telecoms manufacturer, with shares publicly traded on both the Hong Kong and Shenzhen Stock Exchanges (H share stock code: 0763.HK / A share stock code: 000063.SZ). For more information, please visit www.zte.com.cn [1].
Links:
[1] http://www.zte.com.cn/