ZTE noted its R&D expenses amounted to CNY 12.73 billion in H1, accounting for 20.4% of operating revenue
Chinese vendor ZTE announced revenues of CNY 62.49 billion ($8.72 billion) for the first half of 2024, representing an increase of 2.9% year-on-year.
In a release, the vendor noted that its net profit for the period reached CNY 5.73 billion, up 4.8% year-on-year.
In H1 2024, ZTE achieved CNY 43.06 billion in domestic revenue, representing 68.9% of the total, and CNY 19.43 billion in international revenue, accounting for 31.1% of the total.
Meanwhile, revenues from the operator network, government-enterprise and consumer businesses were CNY 37.30 billion, CNY 9.17 billion and CNY 16.02 billion respectively, accounting for 59.7%, 14.7%, and 25.6% of the total.
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During the first half of the year, ZTE’s R&D expenses amounted to CNY 12.73 billion, accounting for 20.4% of operating revenue. The company said it has filed over 90,000 global patent applications and holds a total of 46,000 granted patents worldwide. In the AI field alone, ZTE has approximately 5,000 patent applications, with more than 2,000 patents granted.
“During the period, in the operator network segment, domestic growth was under pressure due to the overall investment environment, while internationally, the company continued to achieve breakthroughs with major countries and large telecom operators, maintaining double-digit growth,” the vendor said.
“ZTE focused on expanding its government-enterprise and consumer businesses, significantly broadening its market presence, with revenues from both sectors returning to a fast growth trajectory, increasing by 56.1% and 14.3%, respectively,” ZTE 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.