A ZTE building in Beijing on June 13 Photo: VCG

Chinese telecom giant ZTE vowed to surpass 200 percent of annual growth rate in domestic market in future two to three years, said Ni Fei, senior vice president of ZTE and President of the company's terminal business department, on the ZTE Global Analyst Conference on Monday. 

In the first half of 2021, the growth rate of ZTE's terminal business income from domestic market reached 150 percent, and the overseas revenue also saw a 50 precent increase. ZTE's 5G CPE (Central Processing Element) accounts for the largest market share in the international market, said Ni.

Ni estimated that the annual terminal output will surpass 100 million units and half of them use independently developed chips. Ni also vowed to be listed in the world top 500 in two to three years with an annual growth rate of 200 percent and 50 percent in domestic and oversea markets respectively.

According to the data shown on ZTE's website, the company's revenue in the first three quarters reached 83. 83 billion yuan ($13.13 billion) and 5.85 billion yuan of net profit. 

Globao Times