Telecommunications company ZTE Corp. reported revenue of RMB 62.49 billion and a net profit of RMB 5.73 billion for the first half of 2024 (H1 2024), reflecting a 4.8% increase from the previous year.
The company credited its success to advancements in new technologies like artificial intelligence and 5G. ZTE’s business expanded in international markets, and its government and consumer divisions saw significant growth, with revenues in these areas increasing by 56.1% and 14.3%, respectively.
In China, ZTE generated RMB 43.06 billion, which makes up about 69% of its total revenue. The rest came from its international operations, which contributed RMB 19.43 billion. The company’s business is divided into three main segments: operator networks, government-enterprise, and consumer products, with each playing a key role in its overall revenue.
ZTE is also heavily investing in research and development (R&D), spending RMB 12.73 billion in the first half of the year. This investment has resulted in over 90,000 patent applications worldwide, with 46,000 patents already granted, including more than 2,000 in AI.
ZTE remains a major player in the global 5G market, continuing to innovate and expand its product offerings. The company also launched new AI-driven consumer products, such as smartphones and tablets, as part of its strategy to bring advanced technology to everyday users.