Ina Fried

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Sales Up, Profits Down at China’s ZTE

Fast-growing Chinese smartphone maker ZTE said on Thursday that it had revenue of 86.25 billion yuan in 2011 ($13.67 billion), up 23.4 percent from the prior year.

The company said it was the second-fastest-growing smartphone maker in the world, and the fourth-largest mobile phone maker overall.

ZTE said it gained in its home market as well as other markets, including the U.S., where the company has been steadily increasing its presence.

Despite the increased sales, though, ZTE saw its profit drop by more than a third, to 2.06 billion yuan ($326.5 million).


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work