ZTE steps up efforts to develop 5G business

ZTE Corp has shrugged off the shadow of last year's losses by rebounding strongly in the first half of 2019 as a Chinese leading telecoms equipment manufacturer steps up efforts to develop its 5G business.

The Shenzhen-headquartered company posted 1.47 billion yuan ($205 million) in net profit in the first six months of 2019, soaring 118.8 percent from the same period last year, when it reported a net loss of 7.82 billion yuan.

The company's operating revenue increased 13.1 percent year-on-year to 44.6 billion yuan over the same period, according to its 2019 interim results announced late on Tuesday.