The Chinese manufacturer of telecommunications equipment and smartphones ZTE reported about a nearly 30 percent increase in profits for the first half of 2017. The rise was promoted by projects in the sphere of 4G-networks and the growth of sales of smartphones, reports Reuters..

According to Nikkei, during the period from January to June 2017, ZTE's net profit increased by 29.9% compared to the same period of 2016 and amounted to 2.29 billion yuan (about 339 million US dollars). Also reported revenue of 54.01 billion yuan (7.98 billion dollars), up 13.1% over last year's figure of 47.76 billion yuan.

In ZTE explained that the improvement in financial performance was possible due to the rise in the division for the production of telecommunications equipment and consumer business. Chinese telecom operators continue to invest in the development of 4G infrastructure. In addition, there is a growing demand for ZTE mobile phones in foreign markets.

The results of ZTE show that the company successfully restores its financial affairs after the US authorities fined it by almost $ 900 million for exporting technologies in violation of the US trade embargo.

The Chinese vendor is building ambitious plans and promises to double investment in the development of mobile networks of the fifth generation (5G), and soon will become one of the leaders in the communicator market and make direct competition between Apple and Samsung.