ZTE posts record first-half profits

Chinese vendor ZTE has posted high profits in its first-half 2014 report, which it largely attributes to the uptake of 4G in China.

The company said its first-half net profit rose 263% year-on-year to $184 million, citing improving margins in its global business revenue from contracts to build China’s next-generation telecoms network.

“In the first six months, ZTE continued to strengthen cost control and operational management, achieving improved profitability in international contracts. 4G infrastructure accounted for an increased proportion of revenue,” a statement from ZTE read.

In May, China Mobile awarded a significant portion of its 4G vendor contracts to ZTE and its rival, Huawei.

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