ZTE reports revenue decline in 2018

SHENZHEN, March 28 (Xinhua) -- Chinese telecommunications company ZTE reported full-Year operating revenue of 85.51 billion yuan (12.7 billion U.S. dollars) last Year.

It marked a Yearly decrease of 21.41 percent, according to the company's annual report filed to the Shenzhen Stock Exchange Thursday.

The company's net profit last Year plummeted by 252.88 percent Year on Year, suffering a loss of 6.98 billion yuan.

ZTE attributed the declining profit mainly to a U.S. fine of 1 billion U.S. dollars.

It expects its net profit in the first quarter this Year to be between 800 million yuan to 1.2 billion yuan.

The company said it would focus on self-dependent innovation of core technologies, such as 5G, in 2019.

ZTE is a global provider of telecommunications equipment, networking solutions and smartphones.