ZTE Corp. First-Half Profit Jumps on 5G Expansion

By Yongchang Chin

ZTE Corp.'s profit more than doubled in the first half of the year, helped by the expansion of its 5G infrastructure in China.

Although ZTE's overseas expansion was hindered by Covid-19 flare-ups overseas that weighed on telecommunications network investment and 5G network construction, first-half net profit more than doubled to 4.08 billion yuan ($630.4 million). Revenue rose 12% to CNY53.07 billion.

ZTE said Friday it expects growth to continue in the second half of the year, supported by rising mobile data consumption. It also plans to continue investing in core technologies like chips, algorithms and network architecture.

Write to Yongchang Chin at [e-mail]

(END) Dow Jones Newswires

08-29-21 2121ET