Like a phoenix rising from the ashes, ZTE has been reborn.
Juicy state contracts have helped turn the Chinese high-tech juggernaut around after nearly suffering a slow death in 2018 when it was dragged into the trade war between Washington and Beijing.
Last year, revenue jumped 6.1% to 90.74 billion yuan (US$12.82 billion) compared to the same period 12 months ago. Net profits also surged more than 173% to 66.6 billion yuan ($9.4 billion) from its consumer retail operation, such as smartphones, and telecom infrastructure division on the back of China’s massive 5G rollout.
