Crucial Year for ZTE

In 2008, ZTE's revenues rose 27% to 44.29 billion yuan (6.49 billion US dollars). The Shenzhen-based telecoms equipment maker also reported a 24% increase in net profit to 1.55 billion yuan.

ZTE said 2009 is set to be a year of "extreme importance" as the company pursues opportunities presented by the issuance of 3G licenses in China. However, ZTE also warned that its international business expansion will face challenges amid the "aggravating" financial crisis. source: ZTE statement