Jun. 28, 2012 (China Knowledge) – ZTE Corp<000063
>, the second-largest telecom equipment manufacturer in China, announced yesterday that it inked a purchase contract with China Telecom Co Ltd<0728
>, the nation's largest fixed-line operator, to provide 40% of the equipment for China Telecom's broadband expansion project.
According to the contract, ZTE will provide a series of key equipment including broadband terminal to the telecom operator, no details, such as contract value, have been disclosed.
ZTE will be the largest equipment supplier for China Telecom's RMB 4 billion projects, the company added.
In 2011, ZTE saw its operation revenue increased 13.39% YoY to RMB 86.25 billion, while the net profit attributable to shareholders declined 36.6% from a year earlier to RMB 2.06 billion, sources reported.