ZTE’s profitability went through the roof in 2014

Chinese telecom hardware company ZTE has had a banner year, according to a press release the company has issued prior to the release of its 2014 yearly report. While revenues have reportedly experienced only modest growth over 2014 (up just eight percent compared to the previous year) net profits year-on-year have grown 94.2 percent, from RMB 1.35 billion (US$217 million) in 2013 to RMB 2.64 billion (US$424 million) in 2014.

ZTE’s profit growth over the past year is due to the fast growth in China’s 4G sector; ZTE has a hand in both TD-LTE and FDD-LTE hardware, so 4G growth has benefited the company. ZTE’s global 3G and 4G business, including hardware and handset sales, was also a contributor.

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