ZTE achieves higher operating revenue and profit in 2022

China-based global technology giant ZTE recently revealed its annual report for 2022.

File photo: ZTE logo last MWC 2023

ZTE operating revenue and profit 2022 report

ZTE doubled revenue and profit last 2022

It shows that the company achieved a full-year operating revenue of CNY 122.95 billion (around PHP 979.7 billion) in 2022 which is higher by 7.4 the year earlier. It also achieved a profit of CNY 8.08 billion (around PHP 70.1 billion) last year.

During the period, ZTE seized the trend towards global digitalization and decarbonization development, strengthened DICT's full-stack and full-domain R&D investment and innovation, and continuously improved the competitiveness of ZTE's key technologies and products.

This resulted in solidifying its position while maintaining steady operations. ZTE's business philosophy also aims to maintain quality growth.

To continue being competitive, ZTE  has invested CNY 21.6 billion in 2022 which is around 17.6 percent of its revenue.

The company also continued to deepen the digital and intelligent transformation, improve organizational flexibility, elasticity, and resilience, and ensure the orderly, efficient, and healthy development of all businesses.

Growth in all markets

For operating revenue in both domestic and international markets, ZTE also achieved year-on-year growth in three of its major businesses like carrier networks, government and enterprise businesses, and consumer business. It reached CNY 85.25 billion (around PHP 679 billion)or 69.3 percent of its domestic operating revenue and CNY 37.71 billion (around PHP 300 billion) or 30.7 percent of its overall operating revenue.

ZTE also achieved annual operating revenue of CNY 80.04 billion with a YoY increase of 5.7 percent for its carriers' networks.

For government and corporate business, ZTE achieved operating revenue of CNY 14.63 billion translating to a YoY growth of 11.8 percent. For consumer business, the group recorded operating revenue of CNY 28.28 billion with a YoY increase of 9.9 percent.

In 2022, the group launched a variety of mobile phones from its ZTE, nubia, and Red Magic brands. During the period, the company also experienced growth in PON CPE and DSL CPE shipments where they ranked first globally.

According to the company, ZTE will promote innovative ICT technologies and will continue to be the industry's solid partner in driving the digital economy, with innovative initiatives and new solutions and products in the Philippines this 2023.

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