ZTE and Huawei growth beats Nokia and Ericsson Gizchina.com

News Snapshot:

Despite the sanctions, Chinese manufacturers of network equipment are experiencing significant growth. ZTE and Huawei’s growth in sales resulted in very good financial reports released these days. ZTE, the second-largest manufacturer of network infrastructure, has seen its share price hike of 61 percent over the past year. It had a 28.5% operating profit hike and a 4.3% increase in sales in Q1 2023. On the other hand, the European competitors, i.e. Ericsson and Nokia, saw a decline. The value of their shares fell 30% and 22%, respectively in the last year. On July 20, Nokia reported a 3% drop in...