MANILA, Philippines – In its latest quarterly financial report, ZTE Corporation, a major global provider of ICT solutions, recorded revenue of RMB 90.04 billion for the first three quarters of 2024. This marks a 0.7% year-on-year increase, with net profits reaching RMB 7.91 billion, a 0.8% rise from the previous year. ZTE achieved consistent gains in the international market, which recorded double-digit growth, alongside progress in consumer and government enterprise sectors.
Despite challenging economic conditions, ZTE’s investments in R&D totaled RMB 18.64 billion, or 20.7% of its revenue, enhancing its capabilities in 5G-A, all-optical networks, and full-stack intelligent computing. ZTE continues to prioritize high-growth areas such as AI, cloud computing, and digital infrastructure, maintaining significant contributions in global telecommunications and digital transformation across industries.
ZTE’s advancements in 5G and network solutions are reflected in its strong market share for RAN products, 5G core networks, and optical access technologies. The company has also expanded its AI-powered product line, including new smartphones in the third quarter, furthering its “AI for All” initiative aimed at making advanced AI products accessible globally.
Looking ahead, ZTE aims to deepen its collaborations with industry partners to accelerate digital transformation and support high-quality growth across various sectors.
Q: What were ZTE’s revenue and profit in Q3 2024?
A: ZTE reported RMB 90.04 billion in revenue and RMB 7.91 billion in net profit for the first three quarters of 2024.
Q: How did ZTE’s international market perform?
A: ZTE’s international operations achieved double-digit growth due to successful engagements with major telecom operators.
Q: How much did ZTE invest in R&D?
A: ZTE invested RMB 18.64 billion in R&D, accounting for 20.7% of its revenue, focusing on innovations in 5G and intelligent computing.
Q: What areas did ZTE’s R&D focus on?
A: ZTE’s R&D focused on 5G-A, all-optical networks, and full-stack intelligent computing, aligning with the latest ICT industry trends.
Q: What products did ZTE introduce in Q3 2024?
A: ZTE launched upgraded AI-powered smartphones, including the nubia Z60 Ultra Leading Version and the 5G-enabled ZTE Yuanhang 40s, as part of its “AI for All” strategy.