ZTE targeting $800 million revenue for 2014

Chinese telecom equipment major ZTE said it was targetting $800 million revenue for the year 2014 from India as telcos were likely to spend more on the back of growth revival in the sector.

The company, having already clocked $400 million in revenues till October this year, hopes to close 2013 with $500 million in revenues, the report said, PTI reported today.

"Telecom companies expect clarity (in rules) after the elections and by then, the auction would have also been completed. Telecom companies have already started preparing and we expect next year to be good," ZTE India CEO Xu Dejun told reporters in New Delhi.

The company already manages the 4G network of Bharti Airtel in Kolkata and Chandigarh as also select circles of Sistema Shyam for its CDMA network and is also expected to bid for Bharti Airtel's 3G service network upgradation deal.

He added, the company would also be helped by the refarming as telecom operators were looking at revamping their networks.

The company expects a significant portion of the $800 million revenue to come from its handset business. The company had, in May this year, partnered Pune-based Calyx to enter the handset market in India, following which it had introduced several smartphones and aimed to sell 2 million smartphones by next year.

Xu said while inaugurating its exclusive experience zone in Gurgaon, that while online purchasing was fast picking up in the country, there was still a large Indian audience which preferred to have a hands-on experience of the product before making any purchasing decision.

He added, the company would set up many more stores in other high potential cities.

He said, the company would invest $10 million in marketing and branding initiatives in India.

According Xu, India had always been a key market for ZTE as the country offered immense potential and growth opportunities across the various business segments.

He added that ZTE now had a customer base of over 36 million terminal users in the country.