While its Western World counterparts continue to witness dwindling financial performance quarter on quarter, Chinese vendor ZTE Corp is rapidly heading northwards and posting impressive figures as is evident from the company’s Q3 results announced today wherein it posted revenues of RMB15,136 million or USD 2.216 billion at 42.81 % yoy growth. Net profit too zoomed reasonably well at RMB 409 million or USD 60 million.EPS was at RMB 0.23 or USD 0.03 per share.

For the nine-month period, the company has recorded revenues of RMB 42,843 million or USD 6. 274 billion at yearly growth of 46.13 %. Net profit for the nine-month period is RMB1,192 million or USD 175 million while EPS is at RMB 0.68 or USD 0.10.

ZTE saw increased uptake of its LTE, UMTS and GSM solutions. The domestic China market contributed significantly to the company’s financial figures. ZTE has bagged major share of the country’s 3G network deployment.

ZTE’s Carrier Network business vertical managed yoy growth rate of 47.32 % banked on uptake of its solutions for 3G, optical transmission and data communications. The terminal arm comprising of mobile handsets as well as fixed terminals, reported 38.67 % revenue growth while revenues from the software systems, services and other products grew by 17.85 %. ZTE attributed the rise to strong sales for fixed terminals.

ZTE now aims to focus more on Western Europe and North America for the remaining quarter in addition to reinforcing its position in China.