ZTE, China Unicom miss quarterly profit forecasts

Reuters

ZTE Corp (Shenxhen, P.R.C.) and China Unicom (Beijing, P.R.C.), China’s second largest telecommunications equipment maker and carrier respectively, reported third quarter net profit that missed expectations, with both companies grappling with pressured margins.


ZTE posted a second straight fall in quarterly profit mainly due to the weakness in the euro and a delay in value-added tax rebates, while China Unicom's profit was up by a worse-than-expected 21% as it doled out subsidies to attract more 3G users.

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