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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Nobody was excited about paying top dollar for a movie about WikiLeaks. A film about the origins of Pets.com would have done better.

— Gitesh Pandya of BoxOfficeGuru.com comments on the dreadful opening weekend box office numbers for “The Fifth Estate.”