ZTE's 2013 Q1 sees profits of $33 million despite three percent sales slide

ZTE has managed to break a run of two straight quarterly losses by posting a net profit of $33 million in its first 2013 financials. Unfortunately, the extra cash has come from selling a $133 million stake in surveillance firm Shenzhen ZNV, rather than any surge in handset popularity. A three percent fall in sales, project holdups, and squeezed margins have all helped to heap woes onto ZTE's plate -- not to mention the ongoing hostility from the folks in Congress.

Filed under: Cellphones, Wireless, Mobile

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Source: Bloomberg

Source: http://www.engadget.com/2013/04/26/zte-2013-q1/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget

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