ZTE May Swing to First-Quarter Profit After Estimated 2012 Loss
This article is for subscribers only.
ZTE Corp., China’s second-biggest mobile-phone equipment maker, said it may swing to a profit in the first quarter after posting an estimated loss last year.
The company plans to control costs, streamline its organization and focus its efforts in developed markets such as the U.S., Europe and Japan, ZTE said in a statement to the Hong Kong Stock Exchange today, without giving a target for net income in the first three months of 2013. ZTE intends to grab as much as 10 percent of the U.S. handset market by 2015, Cheng Lixin, head of ZTE’s operations, said in a Jan. 10 interview.