ZTE posts $14.7 bn revenue and $342 mn loss in 2016

ZTE SDON solutionZTE said its revenue reached RMB 101.2 billion or $14.7 billion in 2016, fuelled by growth in Carrier Networks and Consumer businesses.

The Chinese telecom equipment and software maker did not provide details about the growth in its business.

ZTE has generated RMB 58.9 billion or $8.55 billion revenue from the Carrier Networks; RMB 33.5 billion or $4.86 billion from Consumer business and RMB 8.9 billion or $1.3 billion from Enterprise business in 2016.

Operating profit of ZTE increased to RMB 1.17 billion. ZTE posted a net loss of RMB 2.36 billion or $342 million including a provision of about $892 million related to the settlement of the company’s case in the United States.

Revenue in the Carrier Networks division was supported by network solutions including Pre5G, Big Video and Network Virtualization and Cloudification and SDN and NFV.