ZTE's income soars, revenue dwarfs profits

Equipment provider ZTE has reported a 29% increase in revenue this quarter, reaching 10.6 billion Yuan (US$1.55 billion).

But while profits have increased in Q3, reaching US$44.4 million, they still represent a mere fraction of the company's revenue. In Q3 2007, ZTE earned US$26.4 million.

ZTE has attributed this growth to growing demand for GSM infrastructure, as well as optical gear and mobile handsets.

The company is predicting an even better fourth quarter, as operators prepare for the roll-out of new CDMA infrastructure.

According to Light Reading, the upgrade will be worth around US$292 million for ZTE.