ZTE Corp, China's biggest public telecommunications equipment maker, expects to lose up to 2.9 billion yuan (US$463 million) in 2012 because of low-margin contracts signed in domestic and overseas markets and the falling prices of mobile phones, the firm said yesterday.
But Shenzhen-based ZTE forecasts a return to the black in the first quarter, said an e-mailed statement sent to Shanghai Daily. Morgan Stanley said in a recent statement it predicted ZTE to recover to a profit this year.
ZTE expects a loss of 2.5 billion to 2.9 billion yuan last year, or a 0.73 to 0.85 yuan loss per share, against 2.06 billion yuan of profit, or 0.61 yuan per share in 2011, the company said in a statement to the Shenzhen Stock Exchange.
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