Not many think about ZTE when they think of a smartphone company that is doing well these days, but they have had a good year so far. ZTE is still facing fierce competition from the likes of Huawei and Xiaomi, but profits show they are bouncing back some. The company recently released their financial report which showed an increase in profits of almost 30%. The company attributes this thanks to increased sales of both carrier network solutions as well as smartphones.
Many of you already know about ZTE's smartphones, but the company also has Pre5G products deployed at over 40 networks in 30 countries. So now the Chinese multinational telecommunications company is switching things up with some of their executives. The person who was previously in charge of ZTE's entire mobile business was Yin Yimin. However, last month the company named Mr. Yimin as a new chairman so now he's stepping down from the previous role he had.
To take his place, ZTE has announced they will bring over the person who has been in charge of ZTE's United States division. Cheng Lixin has been president of the company's North America mobile devices business since 2010. Mr. Lixin will now take the place of Mr. Yimin and will now be the president of ZTE's entire mobile devices division. ZTE came to this decision since the United States market is the strongest for the company, so they feel it makes sense for him to take the lead.
This change in leadership comes after ZTE pled guilty to a sanctions case with the United States just last month. The investigation has been going on for 5 years and ZTE thought it was best to end it quick when they had the chance. The company has agreed to pay hundreds of millions in fines as well as move around some of their senior management staff.
Source: Reuters
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