Asia-Pacific telecoms business growth spurs ZTE

Written by on May 12, 2015 in News with 0 Comments
REUTERS/Pichi Chuang

REUTERS/Pichi Chuang

SINGAPORE (Reuters) – Chinese telecommunications equipment maker ZTE Corp is targeting sales of $2 billion (1 billion pounds) for its carrier and enterprise businesses in the Asia-Pacific region this year, the company’s vice president said on Tuesday.

ZTE expects demand for infrastructure to support 4G mobile networks to lift 2015 sales by 20 percent in the Asia-Pacific region, excluding China, this year, up from $1.7 billion in 2014, Zhang Renjun told Reuters in an interview. Zhang was in Singapore to attend a telecoms industry event.

Data services growing even faster.

Zhang also said sales for its enterprise division alone, which provides data services and builds private telecoms networks for companies and organizations, will grow at a faster pace this year, rising 25 percent.

The Shenzhen-based company, which competes with cross-town rival Huawei Technologies Co Ltd in telecoms equipment and smartphones, posted a 42 percent rise in quarterly net profit in April as strong global demand for 4G infrastructure boosted sales.

(Reporting by Lee Chyen Yee in Singapore and Yimou Lee in Hong Kong; Editing by Kenneth Maxwell)

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