SHENZHEN, China, March 23, 2017 /PRNewswire/ -- ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, reported full-year revenue rose to RMB 101.2 billion in 2016, bolstered by growth in the company's Carrier Networks and Consumer businesses.
Operating profit increased to RMB 1.17 billion, according to ZTE's annual results announcement today. Net loss attributable to holders of ordinary shares of the listed company of RMB 2.36 billion included a provision of about US$892 million related to the settlement of the company's case in the United States. Without the provision, ZTE would have posted net profit of RMB 3.83 billion, 19.2% higher than a year earlier.
Revenue in the Carrier Networks division increased to RMB 58.9 billion in 2016, as ZTE's innovative network solutions including Pre5G, Big Video and Network Virtualization and Cloudification are deployed by more operators around the world. ZTE's award-winning Pre5G solutions including Massive MIMO enable operators to fast-track the application of next-generation 5G technologies on existing 4G LTE network infrastructure, and are deployed in more than 40 networks in over 30 countries.
ZTE's industry-leading SDN (software-defined networking) and NFV (network functions virtualization) solutions are deployed in more than 180 networks globally, after the company added over 40 new projects in 2016.
Consumer Business revenue rose to RMB 33.5 billion, as ZTE's smartphones and devices consolidated their market-leading positions in the US, Europe and Australia. With an uncompromising commitment to quality and user experience on new products, ZTE is among the Top-4 smartphone providers in the US, and moved up to No. 5 position in Europe. In Australia, ZTE is established as the No. 3 smartphone provider.
In the Government and Corporate Business, ZTE posted revenue of RMB 8.9 billion in 2016.
With ongoing focus on innovations in next-generation network and ICT technologies including 5G, cloud computing, Big Data, semiconductors and the Internet of Things, ZTE was ranked No. 1 in the latest international patent rankings published by the World Intellectual Property Organization. ZTE filed 4,123 applications for patents under the Patent Cooperation Treaty (PCT) in 2016, more than any other company, according to WIPO data.
ZTE is building on its leadership in 5G network innovations with more than 1,500 related patent applications, and has strategic alliances on 5G research with leading operators including Deutsche Telekom, Telefonica, SoftBank, China Mobile, KT Group, China Unicom and China Telecom. At the Mobile World Congress 2017, ZTE released a new series of 5G base stations for low- and high-frequencies, as the company expects to begin 5G pre-commercial deployments in the third-quarter of 2018.
For Wireline networks, ZTE is focused on national broadband projects around the world, in addition to opportunities in large-capacity optical transport networks resulting from the growth in demand of mobile video and virtualized data centers. Last month, ZTE released the innovative 5G Flexhaul solution, integrating optical network and IP technologies for backhaul and fronthaul bearer networks. ZTE is continuing to lead in IP Video, with new Big Video solutions for end-to-end 4K+ video and virtual reality.
ZTE is committed to leading the industry in the development of IoT solutions, with innovations in Narrowband IoT (NB-IoT) and LoRa technologies.
ZTE is a provider of advanced telecommunications systems, mobile devices, and enterprise technology solutions to consumers, carriers, companies and public sector customers. As part of ZTE's M-ICT strategy, the company is committed to providing customers with integrated end-to-end innovations to deliver excellence and value as the telecommunications and information technology sectors converge. Listed in the stock exchanges of Hong Kong and Shenzhen (H share stock code: 0763.HK / A share stock code: 000063.SZ), ZTE's products and services are sold to over 500 operators in more than 160 countries. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in international standard-setting organizations. ZTE is committed to corporate social responsibility and is a member of the UN Global Compact. For more information, please visit www.zte.com.cn.
SOURCE ZTE Corporation