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ZTE Corp, China’s top public telecommunications gear company, eyes growth in consumer business with its new flagship smartphone. ZTE’s consumer business grew 60 percent year on year in the second quarter, thanks to smartphones, 5G mobile and smart home devices. It now has 3,000 offline outlets nationwide, and will open its first 5G flagship model experience store in Shenzhen soon, said Ni Fei, president of ZTE Mobile Devices.
ZTE is banking on its strong technology and patents on key 5G, display and cameras, which will “surprise” consumers, Ni said in an online conference on Tuesday night. ZTE launched its Axon 30 5G model with a second-generation under-display camera, which offers users better experiences in design, display and photography. ZTE is the only major brand to adopt this technology. The model goes on sale from 2,198 yuan (US$343). ZTE’s core business is offering telecommunications equipment to carriers. It’s one of the four biggest telecommunications gear vendors globally.
In the first half, ZTE’s net profit hit 3.8 to 4.3 billion yuan, more than double a year ago. Consumer business is an income growth engine, the company said.