ZTE to boost 5G, cybersecurity initiatives after posting a record US$1 billion annual loss in 2018

//ZTE to boost 5G, cybersecurity initiatives after posting a record US$1 billion annual loss in 2018

ZTE to boost 5G, cybersecurity initiatives after posting a record US$1 billion annual loss in 2018

ZTE Corp, China’s second largest telecommunications equipment manufacturer, predicted a turnaround of its business this year, with a projected net profit of between 800 million yuan and 1.2 billion yuan (US$119 million and US$179 million) this first quarter, after reporting a record annual loss of 6.98 billion yuan in 2018.Shenzhen-based ZTE mainly attributed its biggest annual loss to the US$1 billion penalty the company paid to the US government last year as settlement for breaching the terms…

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By | 2019-03-27T13:39:51+00:00 March 27th, 2019|Business|Comments Off on ZTE to boost 5G, cybersecurity initiatives after posting a record US$1 billion annual loss in 2018