ZTE to Aim Higher and Act Bigger, Targets Expansion for 2023

ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of information and communication technology solutions shared a bullish outlook for 2023. In his New Year’s message to stakeholders, ZTE chairman Li Zixue talked about “the road that lies ahead for the company,” where 2023 will be all about executing with precision.

ZTE to Aim Higher and Act Bigger, Targets Expansion for 2023
ZTE HQ in China

Looking back at 2022, Mr. Li said, “the previous year marked the start of the company's expansion phase. The macro environment was still challenging, with the COVID-19 pandemic, complex geopolitical situations, and the global economic downturn.” Nevertheless, hardships forge the warrior spirit in ZTE. According to Mr. Li, “following the trend of digitalization and green development,” ZTE has made steady progress, and has continued to pursue excellence when tackling the hardest challenges.

ZTE has likewise increased investments in R&D to continuously enhance the core competitiveness of the key technologies and products. The company has likewise strengthened the foundation and explored new horizons, achieving steady growth in both Chinese and international markets.

ZTE has maintained a year-on-year revenue growth in terms of operator, enterprise, and consumer business, and guaranteed rapid development of innovative business, involving Server and Storage Products (SSPs), terminals, 5G applications, automotive electronics, and digital energy.

For 2023, ZTE will aim higher and act bigger, making continuous breakthroughs while maintaining steady and sustainable growth.

ZTE looks at retaining its leadership in key technologies, and will strive to win first place in the competitiveness of major products. Outside of China, the company will stay focused and improve efficiency, secure sound operations, and achieve expansion in high-value markets, major networks, and partnerships with key operators.

For its enterprise business, ZTE will focus on high-value customers and industries, including Internet, finance, power, and transportation, enhance the competitiveness of major products and solutions such as SSPs and transport networks, and intensify high-quality collaboration to ensure rapid growth.

For its consumer business, ZTE aims to strengthen differential innovation to keep optimizing product experience. In addition, ZTE will further expand the innovative business, and effectively allocate resources to make agile breakthroughs in the markets.

According to Mr. Li, “[i]n the future, the external environment will only be more complex. Against such a backdrop, the digital economy has become an irreversible trend and a key driving force for countries to rebuild their economies and competitive advantages. As a driver of the digital economy, ZTE will stick to its strategy and capitalize on the opportunities brought by computing power, renewable energy, and digitalization, to resolutely fulfill the goals set for the expansion.”

Success hinges on outstanding capabilities. In this increasingly challenging world, ZTE will further consolidate fundamental capabilities and optimize the risk management and control system. Specifically, risks will be actively identified and prevented to safeguard compliance in a systematic manner, and internal control will be reinforced to foster a culture of integrity. Furthermore, ZTE will deepen digital transformation to continuously improve operational efficiency, and strengthen organizational capabilities as well as the synergy of systems for sustainable development of the company,” Mr. Li closes.

For the Philippines, ZTE Philippines president Wan Min also echoes the positive sentiment for the new year, stating, “2022 was a strong year for ZTE. Globally, we grew 10.4% for the first three quarters YOY.  Despite the challenges of the first three quarters of 2022, ZTE relentlessly collaborated with its industry partners and practiced its own positioning as a “driver of digital economy.”

In the Philippines, we continue to be the industry's solid partner in driving the digital economy through key projects that were instrumental in expanding and providing innovative technology and cost-efficient solutions to support our customer to provide a better network for the consumers,” he added.

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