ZTE Reports Profit Surge Due to Increased 4G LTE Equipment Sales

ZTE had $252 million net profit during the first half of 2015 on $7.1 billion in total revenue, the company said in a news release Wednesday. The net is up 43 percent from the same period in 2014 and can be attributed to increased sales of 4G LTE network equipment, ZTE said. Networks division revenue increased 30 percent, while telecom software division revenue rose 36 percent, the company said. ZTE said it plans to launch several new Axon smartphone products during the second half of 2015.