{"id":25072,"date":"2012-10-25T12:22:37","date_gmt":"2012-10-25T10:22:37","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=25072"},"modified":"2012-10-25T15:21:17","modified_gmt":"2012-10-25T13:21:17","slug":"zte-records-first-quarterly-loss","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/hardware\/25072\/zte-records-first-quarterly-loss\/","title":{"rendered":"ZTE records first quarterly loss"},"content":{"rendered":"

ZTE Corp<\/a>, the world’s fourth-biggest maker of mobile phones and fifth-ranked telecommunications equipment manufacturer, reported a net loss of 1.95 billion yuan ($310 million) for July-September, its first quarterly loss on record, as margins thinned, overseas projects were delayed and it made accounting changes at home in China.<\/p>\n

Shenzhen-based ZTE, led by Shi Lirong<\/a>, had previously warned its quarterly loss could be as much as 2 billion yuan – eight times the size of its profit in the first half of this year – triggering a 16 percent drop in its stock price on October 15, a slew of broker downgrades and warnings from Fitch ratings agency.<\/p>\n

At that time, ZTE blamed its forecast loss on delays in some international telecom projects and a large number of low-margin contracts in Europe and Asia, but said it expected to be profitable for the full year.<\/p>\n

Related articles<\/strong><\/p>\n

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EU eases up on ZTE, Huawei<\/strong><\/a><\/p>\n

China rejects U.S. ZTE, Huawei claims<\/strong><\/a><\/p>\n

ZTE stocks hit by US \u201cxenophobia\u201d<\/strong><\/a><\/p>\n

Keep Huawei out of the U.S. \u2013 committee<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

ZTE Corp, the world’s fourth-biggest maker of mobile phones and fifth-ranked telecommunications equipment manufacturer, reported a net loss of 1.95 billion yuan ($310 million) for July-September, its first quarterly loss on record, as margins thinned, overseas projects were delayed and it made accounting changes at home in China.<\/p>\n","protected":false},"author":7,"featured_media":15322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[25,837,229,705],"class_list":["post-25072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hardware","tag-active","tag-loss","tag-results","tag-zte"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/25072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=25072"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/25072\/revisions"}],"predecessor-version":[{"id":25078,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/25072\/revisions\/25078"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/15322"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=25072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=25072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=25072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}