ZTE recently launched a set of 5G-Advanced products at MWC 2024
Chinese vendor ZTE said it has recorded an operating revenue of CNY 124.2 billion ($17.27 billion) during 2023.
In a release, the company said its net profit amounted to CNY 9.33 billion last year, representing an increase of 15.4% year-on-year. In 2023, the company’s net cash flows from operating activities reached CNY 17.41 billion, a year-over-year increase of 129.7%.
“In 2023, amidst a challenging external landscape, ZTE demonstrated precision and pragmatism, maintaining steady operations. With an investment of CNY 25.29 billion into R&D in 2023, covering 20.4% of the operating revenue, ZTE drove its business innovation initiatives, paving the way for sustainable growth,” the vendor said.
In 2023, ZTE’s domestic market reached an operating revenue of CNY 86.48 billion, representing 69.6% of the total revenue. Meanwhile, the international market achieved operating revenue of CNY37.77 billion, accounting for 30.4% of the total.
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The vendor’s operator network, government and enterprise business, and consumer business achieved operating revenues of CNY 82.76 billion, CNY 13.58 billion and CNY 27.91 billion, accounting for 66.6%, 10.9%, and 22.5% respectively.
“The company’s shipments of 5G base stations and 5G core networks consistently ranked second globally for four consecutive years. Its RAN and 5G core network products were recognized as industry leaders, while its optical access product, 10G PON, held the second-largest global market share,” ZTE said.
“Simultaneously, ZTE continuously evolved innovative technologies and solutions, such as 5G-A, all-optical networks, and 5G new applications. Collaborating with operators, ZTE conducted commercial deployments and verifications in various scenarios, including 10Gbps experiences, industrial field networks, communication-sensing-computing integration, and RedCap,” the Chinese vendor added.
During MWC 2024, which took place in Barcelona last week, ZTE announced 5G-Advanced (5G-A) plans and released a number of products. ZTE unveiled 10 5G-A products including UBR and FDD massive MIMO products, mmWave products and non-terrestrial networks (NTN) ground base station to extend 5G-A scenarios, and the a series of products with integrated communication and computing for rich B2C, B2B applications.