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| Name | Symbol | Market | Type |
|---|---|---|---|
| Ericsson | NASDAQ:ERIC | NASDAQ | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.05 | 0.97% | 5.20 | 5.20 | 5.99 | 5.27 | 5.20 | 5.23 | 13,615,812 | 05:00:09 |
From May 2019 to May 2024
By Juro Osawa
Chinese telecommunications equipment supplier ZTE Corp. said Monday it likely swung to a net profit in 2013, after suffering a hefty loss in the previous year, thanks to cost cuts and efforts to cut back on low-margin business contracts.
In its preliminary financial results filed with the Hong Kong stock exchange, ZTE said it expects a 2013 net profit in the range between 1.2 billion yuan ($198 million) and CNY1.5 billion, a reversal from a net loss of CNY2.84 billion in 2012.
ZTE said its total expenses in 2013, including those on sales and distribution as well as research and development, fell significantly from the previous year. It also cited improved margins for overseas business contracts as reasons behind its earnings recovery.
In interviews last year, ZTE executives said the company expected to benefit from stronger demand in China, with the country's major carriers deploying faster fourth-generation mobile networks.
ZTE said it will disclose final earnings figures later, in its 2013 annual report.
The Shenzhen-based company is a major player in the market for telecom networking equipment, though its revenue trails global giants in that sector such as Sweden's Ericsson and China's Huawei Technologies Co. In addition to telecom gear, ZTE sells smartphones.
Write to Juro Osawa at juro.osawa@wsj.com
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