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ZTE more than doubled its target shipment of smartphones in 2012. The growth in smartphone sales helped ZTE post a gross profit margin of 16.8 percent in its terminals division in 2012, an improvement of 1.6 percentage points compared to a year earlier.
In the US, ZTE’s smartphone shipments greatly increased due to the company’s focus on high-end markets. In emerging markets including India, Indonesia, Mexico, Argentina, and Russia, ZTE also achieved fast growth. In 2012, the distributors channel contributed 10 percent of ZTE’s terminal revenue for the first time.
The strong smartphone sales performance helped ZTE record RMB1.87 billion of operating cash flow in 2012. ZTE also posted positive free cash flow and operating cash flow for the first time in three years.