ZTE Corp., an international provider of information and communication technology (ICT) solutions, reported revenue of RMB 90.04 billion for the first three quarters of 2024, showing a modest 0.7% year-on-year growth.
Net profits for the period amounted to RMB 7.91 billion, up 0.8% compared to last year. ZTE’s performance was achieved despite a complex business environment, with significant contributions from international market expansion.
According to the company, it has shown resilience and strategic growth, thanks to the focus on both technological advancement and market needs.
The ICT provider saw steady success in its domestic and international segments, particularly in consumer products and government-enterprise services, which both experienced rapid growth. ZTE’s domestic operator network business faced challenges tied to investment pressures, but this was offset by notable progress in key international markets, where the company maintained double-digit growth with major telecom operators.
New products
ZTE allocated RMB 18.64 billion (about 20.7% of revenue) to research and development. This investment has driven progress in 5G-A technologies, all-optical networks, and intelligent computing, supporting integration across a range of industries. The company’s standing in the connectivity sector remains strong, holding second place globally in 5G base station shipments and market share for fixed network products. ZTE’s optical access solutions recently earned three awards at the Network X 2024 event.
ZTE also launched several new products, including an 800G optical network transmission solution capable of reaching 2,000 kilometers and intelligent optical access products using 50G PON technology. This technology enables 10G-level connectivity, a step toward the industry’s anticipated 10G optical network era.
In computing, ZTE has prioritized intelligent computing as a growth area, developing comprehensive solutions like AI servers, high-performance storage, and intelligent computing platforms. Its efforts extend from terminals to data centers, positioning ZTE to address a wide range of AI-driven applications.
ZTE’s smartphone lineup expanded this quarter with the nubia Z60 Ultra Leading Version and ZTE Yuanhang 40s, underscoring the company’s strategy to make advanced AI products more accessible globally.