ZTE Corporation, a global leader in ICT solutions, reported revenue of RMB 90.04 billion and a net profit of RMB 7.91 billion for the first nine months of 2024, reflecting modest year-on-year growth. Net profit after extraordinary items was RMB 6.90 billion, while operating cash flow reached RMB 8.05 billion.
Despite external challenges, ZTE has maintained stable operations, prioritizing precise management and leveraging the evolving ICT market to boost innovation and efficiency.
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Growth in International Markets and Key Sectors
ZTE’s international markets showed robust performance, achieving double-digit growth due to strategic partnerships with key operators and countries. While the domestic operator network business faced some pressure, rapid growth continued in ZTE’s consumer and government-enterprise segments.
Focus on R&D and Technological Advancements
ZTE invested RMB 18.64 billion (20.7% of revenue) in R&D, advancing technologies such as 5G-A, all-optical networks, and intelligent computing. This focus on innovation has helped ZTE secure a leading position globally in 5G infrastructure and fixed network products, ranking second in cumulative 5G base station shipments. Additionally, ZTE introduced an 800G OTN pluggable solution, which enables long-distance transmission, and a 50G PON-based optical access product, enhancing 10G network capabilities.
Expansion in Intelligent Computing and AI Integration
ZTE is prioritizing intelligent computing as a strategic focus, providing a full range of products for AI and high-performance scenarios. Its suite includes AI servers, high-performance storage, intelligent computing platforms, and solutions for edge and data center applications.
Consumer Product Innovations
ZTE’s “AI for All” strategy led to the release of upgraded AI-powered smartphones, including high-end and budget models, with a focus on expanding its Nubia brand globally. New products have entered markets like Argentina and Germany, aiming to broaden ZTE’s consumer reach.
Outlook
ZTE aims to strengthen its digital intelligence infrastructure and expand application scenarios in collaboration with industry players, contributing to industrial digital transformation and high-quality growth across sectors.
