Chinese telecom equipment and handset manufacturer ZTE (0763.HK; 000063.SZ) has announced its unaudited financial results for H1 2008, with net revenues reaching RMB 19.7 bln, up 29.5% year-on-year.

Net income for the period came to RMB 557 mln, up 21.2% YoY.

Revenue from wireless communications systems during the first 6 months was RMB 7.5 bln, up 10.2% YoY. Revenue from wireline switch and access systems was RMB 1.1 bln, up 88.4% YoY. Optical and data communications systems revenue reached RMB 4.2 bln, up 66.7% YoY. Handset revenue totaled RMB 4.3 bln, up 19.5% and revenue from telecommunication software systems, services and other products came to RMB 2.6 bln, up 51.8% YoY.

Mainland China revenues for H1 amounted to RMB 7.1 bln, accounting for 36% of total revenues, while international revenues, up 59% to RMB 12.6 bln, accounted for the remaining 64%, with the Asia Pacific, Middle East and Africa serving as key growth markets.

Source:ZTE Press Release