ZTE looking at Indian market for growth

ZTE looking at Indian market for growthChina's second largest telecom gear maker, ZTE is increasingly focusing on the Indian telecom market for growth during the year.

ZTE India had generated total revenues of $ 700 million during 2012 but had recorded a loss of $400 million in the previous year. The company is looking to improve earnings this year and has recorded an increase of 35.9 per cent in net profits during the first quarter from January to March, 2013 in India.

Top Executives of the company were accompanying Chinese Premier, Li Keqiang during his visit to India and formed a part of the Chinese business delegation in the country. Xu Dejun, the Chief Executive Officer of the Indian unit of the company, pointed out that the company has re-evaluated the Indian telecom market and it is now switching its focus from telecom equipment to smartphones in the country.

Smartphones currently accounts for 10 per cent of ZTE's sales in India and Xu wants the figure to rise to 30 per cent this year. He also said that the ZTE is aiming to become one of the leading three smartphone makers in India in the coming next three years.