A maker of telecommunications equipment and systems, ZTE focused on developing new opportunities in mobile Internet and cloud computing. Its cloud radio technology, facilitating clear signal transmission to mobile devices, particularly drove sales.
Domestically, China’s leading telecommunications providers are key ZTE customers. ZTE helps build their 3G and 4G networks. Also active abroad, the company’s revenue is evenly split between its domestic and international businesses.
The company employs almost 26,000 R&D specialists, over one-third of its workforce, and has filed to patent over 50,000 items. ZTE Corporation initiated an IPO (Initial Public Offering) on the Shenzhen Stock Exchange in 1997, and a second offering, in 2004, on the Hong Kong Stock Exchange. Zhongxingxin, a technology company, is the controlling shareholder.
Net income increased to $221 million for full year 2013, on revenue that declined 8 percent to $12.2 billion. Income jumped 265 percent to $183 million in the first half of 2014, on a 1 percent revenue gain to $6.1 billion.