ZTE's Sales Slow Sharply

ZTE said last week that its total operating revenue rose just 1.3% year-on-year in the third quarter to 15.34 billion Chinese yuan (2.29 billion US dollars). In the first nine months of 2010, the Chinese telecoms equipment company's revenue grew 7.5%.

For the first nine months, ZTE reported a year-on-year decline of 2.6% in its revenue from the sales of carriers’ networks, as a decrease in revenue from wireless products was partly offset by an increase in revenue from wireline products. ZTE said revenue from devices grew year-on-year by 30.5%, fuelled by strong demand for 3G handsets and data card products. source: ZTE statement