ZTE expects Q1 profits up

ZTE Corporation, a Chinese telecommunications equipment and system company, said it expects its first-quarter profit to soar between 107.3 and 210.7 percent year-on-year to hit 425 million yuan to 637 million, the firm said on Thursday.

ZTE expects to record increases in both its revenues and profits, as it continued to focus on servicing higher-margin contracts, according to a statement the company filed to the Shenzhen Stock Exchange.

Operating revenue from 4G infrastructure systems in China as a percentage of overall revenue increased, while gross profit margins for international projects improved as well, the company said in the statement.