ZTE expects ACGR of 30% for enterprise unit over next 3 yrs

Chinese telecom giant ZTE Corp aims to achieve an annual compound growth rate of 30 percent over the next three years for its enterprise business unit, said the company's vice-president.

The enterprise business, which provides equipment and services to companies and governments, will maintain the fastest growth among all of ZTE's units, Xu Ming, vice-president of ZTE Corp, said in an interview during the 2013 Mobile World Congress in Barcelona.

"ZTE's enterprise business performance in 2012 was in line with our expectations," Xu said.

He declined to reveal specific figures.

In areas such as energy, transportation and government projects, ZTE has demonstrated strong competitiveness and acquired good shares, Xu said.

"We participated in the construction of more than 40 urban rail lines in many major cities such as Beijing and Shenzhen," Xu said.

The enterprise business accounts for about 10 percent of ZTE's total sales.

"We need three to five more years to realize our target of contributing 30 percent of the company's total revenue," Xu pointed out.