Chinese vendor ZTE announced its financial results for the first half of the year ended June 30, 2008.

While setting a new momentum, ZTE posted a 21.21 percent swell in its net profit at $81.3 million from $67.1 million in the previous year.

Its group revenue for the first six months of 2008 rose by 29.52 percent to $ 2.88 billion from $ 2.22 billion in the year 2007.

The increase in its profit was seen boosted largely by the profits garnered from international operations, which saw 58.93 percent swell to $1.85 billion from $1.16 billion in the year 2007. African operations in particular saw a rise of 107.24 percent with revenues touching $464.14 million. 

“The group continued to report stable business development in the first six months of 2008 as it maintained extensive yet in-depth cooperation with domestic as well as international mainstream carriers,” said a statement from ZTE'''s board of directors.

However, the company’s domestic sales saw a slight fall to CNY7.06 billion ($1.03) from CNY9 billion in the year earlier.

Source:telecomtiger