updated 11:40 am EDT, Fri March 30, 2012
ZTE sales up by nearly 25 percent as profits fall
China's ZTE announced its financial details from 2011 on Thursday, revealing sales that were up 23.4 percent from 2010, at the equivalent of $13.67 billion. The company, which manufactures smartphones, tablets, and both network as well as telecom gear, did suffer in terms of net profits, however, posting a 36.6 percent loss (at $326.5 million) as compared to 2010. The company is expanding in overseas markets, including the US and the UK, and has debuted eight new devices to this end at last month's Mobile World Congress.
More than half of all of ZTE's sales (54.2 percent) came from markets outside of China, which is a marked increase from the 24 percent in 2010. The company has said earlier it plans to capture 10 percent of the market share in the UK by 2015.
The self-proclaimed second-fastest-growing smartphone maker in the world and the fourth-largest mobile phone maker overall may be spending too aggressively on research and development of the new devices to better compete. Just two of the devices included the NVIDIA Tegra 3-powered PF112 flagship phone, as well as the PF100 10-inch tablet powered by the same processor. Both also had Android 4.0 onboard, but much of its existing lineup is still based around Android 2.3.. [via AllThingsD]