China Trade Information

ZTE Corp, China’s second-biggest telecom equipment supplier, has been upgraded to overweight from underweight by Lehman Brothers Holdings Inc, a diversified global financial services firm.

The rating upgrading came after ZTE reported its 2007 profits might rise 50% to 70%. Analysts with Lehman Brothers said ZTE’s earnings may accelerate in 2008, powered by its rising shares in China’s domestic market, the world’s biggest cell phone market with 547.3 million users by 2007.

Meanwhile, Lehman also raised the 12-month price estimate of ZTE to HK$49 (US$6.28) from HK$30.

According to the latest news, ZTE has just got TD-SCDMA network license from Ministry of Information Industry to sell 3G handsets, becoming one of the six firms that were granted the license first.

Tags: 3G, TD-SCDMA, ZTE

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