Telecom network maker ZTE reported revenue of RMB 21.859 billion (+4.09 percent) or $3.37 billion in the first quarter of 2016.

Net profit of ZTE reached RMB 950 million (+15.97 percent).

The Chinese telecom equipment maker did not reveal the revenue break up among its telecom network, enterprise and consumer business segments.

ZTE invested 13.96 percent of revenue into R&D in Q1. ZTE filed for more than 22,000 terminal-related patents, of which more than 4600 were accepted. More than 500 patent applications were related to the AXON series.

In the enterprise business, ZTE has won contracts and commenced deployment of Smart City 2.0 solutions in mainland cities including Shenyang and Huaian. Smart rail transport is continuing to grow with major projects in Denmark, Greece and India.