ZTE has managed to break a run of two straight quarterly losses by posting a net profit of $33 million in its first 2013 financials. Unfortunately, the extra cash has come from selling a $133 million stake in surveillance firm Shenzhen ZNV, rather than any surge in handset popularity. A three percent fall in sales, project holdups, and squeezed margins have all helped to heap woes onto ZTE's plate -- not to mention the ongoing hostility from the folks in Congress.
Filed under: Cellphones, Wireless, Mobile
Source: Bloomberg
Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/QF-ZxQTK-d4/
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