ZTE Corporation, a prominent global player in the telecommunications industry, is strategically embracing the AI trend by emphasizing the development of AI-powered smartphones. In the course of their 2023 performance briefing, company executives revealed their intentions to broaden their range of AI mobile phones with a series of new releases planned for the upcoming year.
Expansion of AI Mobile Phone Lineup
In the coming month of April, ZTE enthusiasts can anticipate the launch of multiple new Nubia AI mobile phones, with a flagship AI device slated for release around the middle of the year. These upcoming devices, powered by the ZTE Nebula OS system, are set to interface with a centralized AI platform, making use of extensive models, significant data, and 3D technology. ZTE is committed to ensuring comprehensive AI integration across various aspects such as imaging, performance, and security features.
Latest Product Offerings
Already in the year 2024, ZTE has introduced a range of innovative products. In February, they unveiled gadgets like the Nubia Flip 5G foldable phone, the Nubia Pad 3D Ⅱ tablet, along with the Nubia Focus 5G and Pro 5G models. Furthermore, they brought forth the Z60 Ultra smartphone, targeted exclusively for the Chinese market.
Financial Performance and Growth
ZTE's dedication to innovation is clearly evident in its robust 2023 annual report. The company announced a net profit of 9.325 billion yuan, showcasing a notable 15.41% year-on-year increase. Total operating income for 2023 reached 124.2509 billion yuan, reflecting a rise of 1.05% compared to the previous year. Throughout the year, the group's gross profit margin stood at 41.53%, marking a 4.34 percentage point increase from the previous year. This enhancement was largely driven by improved gross profit margins within ZTE's core sectors of operator network, government and enterprise, and consumer business.
Moreover, operating costs saw a decline of 5.93%, amounting to 72.6503 billion yuan, primarily due to cost-saving measures implemented in the government, enterprise, and consumer business segments. These impressive financial results underscore ZTE's capability to make substantial investments in the competitive AI mobile phone market.
