{"id":14793,"date":"2020-04-27T09:01:51","date_gmt":"2020-04-27T09:01:51","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=278723"},"modified":"2020-04-27T09:01:51","modified_gmt":"2020-04-27T09:01:51","slug":"zte-q1-financials-dragged-down-by-covid-19","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/04\/27\/zte-q1-financials-dragged-down-by-covid-19\/","title":{"rendered":"ZTE Q1 financials dragged down by Covid-19"},"content":{"rendered":"

<\/p>\n

\tChinese equipment vendor ZTE\u2019s first quarter results were hit by Covid-19 (coronavirus) lockdown measures, with both profit and revenue declining year-on-year despite boosting capacity to keep up with stronger-than-expected demand for 5G network gear.<\/p>\n

Net profit dropped 9.6 per cent to CNY780 million ($110 million), with operating revenue slipping 3.2 per cent to CNY21.48 billion. Net profit after extraordinary items grew 20.5 per cent to CNY160 million.<\/p>\n

The company\u2019s earnings statement didn\u2019t break down revenue by division.<\/p>\n

In a statement, the vendor said it scaled up 5G production capacity as the country\u2019s three major mobile operators accelerated infrastructure buildouts [1], such as 5G and the industrial internet. It also developed new infrastructure-related services in an effort to maintain growth.<\/p>\n

ZTE said it secured significant shares of the country\u2019s three major operators\u2019 5G tenders covering RAN, core network and transport network.<\/p>\n

Last week, the vendor was awarded 35.9 per cent share of a massive 5G standalone network tender [2] announced by China Unicom and China Telecom. ZTE’s share is valued at CNY65.87 billion. In late March, ZTE won 28.7 per cent of China Mobile\u2019s phase two 5G contrac [3]t valued at CNY37.1 billion.<\/p>\n

R&D investment for the quarter totalled CNY3.24 billion, or 15.1 per cent of operating revenue, an increase of 1.2 percentage points compared with Q1 2019.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/asia\/asia-analysis\/china-invests-47-3b-to-spur-mobile-rebound\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/nokia-loses-out-on-china-unicom-telecom-5g-sa-deal\/
\n[3] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/nokia-misses-massive-china-mobile-5g-tender\/<\/p>\n\n

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Chinese equipment vendor ZTE’s first quarter results were hit by Covid-19 (coronavirus) lockdown measures, with …<\/p>\n

The post ZTE Q1 financials dragged down by Covid-19<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":248,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"ZTE Q1 financials dragged down by Covid-19 - ITTeacherITFreelance.hk","description":"Chinese equipment vendor ZTE’s first quarter results were hit by Covid-19 (coronavirus) lockdown measures, with ... The post ZTE Q1 financials dragged dow"},"footnotes":""},"categories":[11,8,21],"tags":[],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/14793"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/248"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=14793"}],"version-history":[{"count":1,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/14793\/revisions"}],"predecessor-version":[{"id":14794,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/14793\/revisions\/14794"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=14793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=14793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=14793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}