It appears you have not yet registered with our community. To register please click here...

Go Back [M] > Madshrimps > WebNews
ZTE reports loss ZTE reports loss
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

ZTE reports loss
Thread Tools
Old 15th October 2012, 09:13   #1
[M] Reviewer
Stefan Mileschin's Avatar
Join Date: May 2010
Location: Romania
Posts: 96,350
Stefan Mileschin Freshly Registered
Default ZTE reports loss

In what is a bad week for the Chinese mobile phone company ZTE, the company has reported a $279.2 million loss.

The loss applies to the first nine months of months of 2012, and it made a statement of its preliminary results announcement on the Hong Kong Stock Exchange yesterday.

ZTE said the company had suffered as a slowing economy has hurt sales and margins have come under pressure.

ZTE warned that the fall in profits will be more than 260 percent compared with the same period last year.

According to Reuters, the company is due to report final results at the end of the October

A lot of the problems were caused by the Iranian market which the company is not really supposed to have. The United States is investigating the company over the sale of banned US computer equipment to Iran, which could be used to monitor landline, mobile and Internet communications.

ZTE said it is cooperating with US authorities, but it has already lost its sales contract with Cisco over the deal. It also got into hot water after a company whistleblower claimed that the outfit started shredding documents the moment it was exposed by the press.

Iran is under global sanctions because of allegations it is trying to develop nuclear weapons.

In just seven days, bot only did it lose Cisco, but it was also accused by a US government committee of being a potential security threat. On the whole it looks like what Her Majesty might have called a Septimana horribilis, even though it is October.
Stefan Mileschin is offline   Reply With Quote

Similar Threads
Thread Thread Starter Forum Replies Last Post
AU Optronics reports another loss Stefan Mileschin WebNews 0 26th July 2012 07:21
AMD reports $590 million loss, claims no 28nm issues Stefan Mileschin WebNews 0 23rd April 2012 06:57
RIM makes a loss Stefan Mileschin WebNews 0 2nd April 2012 06:51
OCZ reports $7.6 million loss for Q2 FY 2011, 265% increase in SSD shipments jmke WebNews 1 11th October 2010 21:14
Seagate Technology Reports $496 Million Net Loss jmke WebNews 0 23rd January 2009 14:40
WD reports loss for 2nd quarter of 2007 jmke WebNews 0 7th August 2007 13:46
AMD Reports a net loss of $600 million USD for Q2/2007 jmke WebNews 3 20th July 2007 21:09
AMD Reports 4Q Loss jmke WebNews 0 24th January 2007 12:37

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off

All times are GMT +1. The time now is 01:50.

Powered by vBulletin® - Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO