ZTE scores in 2014 thanks to 4G deployments and strong smartphone sales

Chinese equipment maker ZTE saw its net profit increase 94 percent in 2014, to $423.4 million, up from $220 million in 2013, thanks to strong smartphone sales overseas and an increase in 4G network deployments. The company said its profits of $423.4 million were in line with the company's forecast. Operating revenue also increased, 8.3 percent, to $13.11 billion.

ZTE has been rapidly expanding its global smartphone business and has said it plans to be one of the top three smartphone manufacturers in the U.S. by 2017. In 2014 the number of ZTE smartphone shipments to the U.S. increased over 50 percent.

ZTE also has been working with Chinese operators to deploy 4G networks. The company said it anticipated building up to a half a million 4G base stations this year, according to Reuters. Article