ZTE Corp. reported net income of $491.34 million on $10.62 billion in revenue during 2010. Revenue for the full year was up 16.69% from 2009 and income jumped 32.39%, according to the company.
The Chinese infrastructure vendor attributed much of its growth in 2010 to increased sales and money it raised through an investment in Nationz Technologies following an initial public offering.
Finally, ZTE said it ended 2010 with assets worth $12.42 billion, marking a 20.4% increase from the previous year.
ZTE Corp. puts a cap on 2010, posting profits of $491M
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