According to a press release from ZTE, the company was the fastest-growing telecom equipment maker and solutions provider in 2008 in terms of revenues. ZTE said it based its statement on preliminary figures from an as-yet-unpubilshed report from research firm IDC.
ZTE said its full year net profit jumped by 32.5 percent to $239 million and revenue rose 27.4 percent to $6.4 billion. The company's wireless business grew 20 percent year-over-year. ZTE's wireless business, including sales of infrastructure, handsets, software and services and other wireless-related items, amounted to 38.5 percent of the company's total revenues.
The company in a press release said the results show it was "the fastest growing telecom equipment and solutions provider in 2008 among the publicly traded major telecom vendors worldwide," citing an "Insight Report" from IDC.
ZTE is among a handful of new faces in the wireless industry. The company has said it plans to push deeper into the U.S. handset market; ZTE currently sells phones primarily through MetroPCS.
For more:
- see this release
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Article updated May 13.