Telecom Lead Asia: ZTE on Friday said its Q1 2013 revenue dropped 2.8 percent to $2.93 billion (18.09 billion yuan).
The Chinese telecom equipment major’s profit rose 35.9 percent to $33.23 million (205 million yuan) in Q1 2013.
The company says it operational review delivered improvements in cash flow and profitability.
Operating cash flow in the first quarter significantly improved compared to a year earlier. ZTE’s gross profit margin has expanded for two consecutive quarters, as the company strengthened efforts to control costs.
ZTE achieved savings of 350 million yuan in selling, administration and research costs in the first quarter compared with a year earlier.
The company will focus on product innovation and solution-based operations. ZTE will also focus on mainstream products and improve R&D efficiency.
ZTE says the strategy for populous nations and mainstream carriers will be reinforced, as we seek to concentrate on markets in which we claim strengths while vigorously expanding in the government, enterprise and service segments.
The group will continue to implement the settlement system to facilitate resource management and control, so as to refine cost management and enhance operating efficiency.
picture credit :.intomobile.com
