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China's ZTE first-quarter profit triples; meets estimate

HONG KONG (Reuters) - ZTE Corp, China's second-biggest telecommunications equipment maker, said first-quarter profit matched its estimate after benefiting from the country's introduction of fourth-generation mobile networks. Net profit rose 204 percent to 622.2 million yuan ($100.01 million) in January-March compared with an estimated range of 425 million yuan to 637 million yuan, the Shenzhen-based company said on Thursday. Operating revenue rose 5.5 percent from a year earlier to 19.05 billion yuan.

Australia's new government maintains ban on Huawei working on national broadband network

CANBERRA, Australia - Australia's new government said Tuesday it will maintain a 2-year-old ban that excludes Chinese tech giant Huawei from working on the nation's high-speed broadband network. The conservative government elected last month has received briefings from national security agencies on the ban, Attorney General George Brandis said in a statement. He declined to give details. "As a matter of long-established practice, the government does not comment on advice from the national security agencies," Brandis said in the statement.

ZTE aims to expand cloud computing services overseas

By Lee Chyen Yee SINGAPORE (Reuters) - China's ZTE Corp, the world's fifth largest telecoms equipment maker, plans to expand cloud computing services abroad, despite the challenge of allaying security concerns.

China's ZTE to post third quarterly profit due to cost cuts

HONG KONG (Reuters) - ZTE Corp, the world's No. 5 telecom equipment and smartphone maker, expects to post a third quarterly net profit for the July-September period. The result was thanks to cost-cutting measures and as the company shunned the low-margin contracts that led to it posting losses last year.

Asset sales lift ZTE's Q1 net profit by 35.9 percent

HONG KONG (Reuters) - ZTE Corp, China's second largest telecom equipment maker in revenue terms, posted a 35.9 percent increase in its first quarter net profit, lifted by gains from selling assets late last year. ZTE reported a net profit of 205.0 million yuan (21 million pounds) in the three months ended March 31, up from 150.9 million yuan in the same year-ago period, the company said in a stock exchange filing on Friday. The figure was below the 220 million yuan quarterly profit forecast by three analysts polled by Reuters.

China's ZTE posts first-ever annual net loss

HONG KONG (Reuters) - China's ZTE Corp, the world's No.5 telecommunications equipment maker, posted its first annual net loss, totalling 2.84 billion yuan ($460 million), due to project delays and falling margins in emerging markets. The Shenzhen-based company swung to the red last year from a net profit of 2.06 billion yuan in 2011, it said in a statement on Wednesday.

Singapore denies improper linkup with China's Huawei

Singapore will allow US officials to inspect the work of a research institute linked to a Chinese telecoms firm which Washington suspects of espionage, the foreign ministry said on Thursday. K. Shanmugam, the foreign minister, told officials on a visit to the US capital this week that no improper transfer of technology took place between the Institute of Microelectronics (IME) and Huawei Technologies, the ministry said.

ZTE to launch more smartphones, names new CEO in India

(Reuters) - ZTE Corp, China's second-largest telecom equipment maker, said it plans to launch more products in India to help increase smartphone revenues by 30 percent this year, while naming a new chief executive for its operations in the country. ZTE India named Xu Dejun as CEO to replace Cui Liangjun, who will move to the company's headquarters in Shenzhen, China.

Hong Kong shares fall 0.1 pct, ZTE hit by profit warning

HONG KONG, Jan 21 (Reuters) - Hong Kong shares slipped from a 19-1/2 month high on Monday, with China's second-largest telecommunication equipment maker ZTE Corp weaker after a profit warning. The Hang Seng Index closed down 0.1 percent at 23,590.9. The China Enterprises Index of the top Chinese listings in Hong Kong ended up 0.2 percent.
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