BUSINESS China's ZTE sees profit decline in Q1

BUSINESS

China's ZTE sees profit decline in Q1

Xinhua

23:20, April 24, 2020

ZTE.jpg

In this Feb 28, 2018 photo, a ZTE Logo is seen at the Mobile World Congress held in Barcelona. (Photo: VCG)

SHENZHEN, April 24 (Xinhua) -- Chinese telecom equipment maker ZTE saw net profit fall 9.58 percent year on year to 780 million yuan (about 110 million U.S. dollars) in the first quarter of 2020.

Meanwhile, its revenue dropped 3.23 percent year on year to 21.48 billion yuan, the company said in its first-quarter earnings report filed to the Shenzhen Stock Exchange.

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