China's ZTE to reap profits in 2013

(MENAFN) China-based ZTE Corp said it will gain revenues this year compared to last year's losses after cost-cutting measures, according to Arab News. The company did not announce its full-year profit figures. However, it said that its net profit in the first nine months was about USD90.54 million. The company, which is the world's fifth-largest telecom equipment and smartphone maker in terms of sales, was affected by the global slowdown in telecoms industry.