ZTE reports second-straight quarterly loss

ZTE Corp, China's second-biggest telecom equipment maker, posted its second-straight quarterly loss due to contract delays and decreasing handset sales in China.

The company reported a net loss of 1.14 billion yuan ($183 million) in the fourth quarter of last year, compared with a net income of 991.6 million yuan a year earlier.

Last year's full-year losses reached 2.84 billion yuan, compared with a loss forecast between 2.5 billion yuan and 2.9 billion yuan released in January.

The company also said in January that it may go back to profits again in the first quarter of this year.

Its net loss in the third quarter was 1.95 billion yuan.