ZTE sees boom in 4G phones -

ZTE has said that sales of 4G smartphones accounting for at least 40 percent of its global smartphone shipments in 2014.

According to Reuters, the Chinese based ZTE plans to ship 60 million smartphones in 2014, up 20 million units from last year.

ZTE global head of mobile devices Zeng Xuezhong told a press conference in Hong Kong that the company's smartphone business was strong in the USA, Japan and Europe. But this year we will add China to that list.

ZTE returned to net profit last year after making a loss in 2012. However operating revenue for the year dropped 10.6 percent, its biggest decline on record, to hit the lowest level in three years.

The company is lagging behind Huawei and Lenovo Group Ltd, which are respectively the number three and five in the world by smartphone shipments.

IDC claimed that Huawei shipped 48.8 million smartphones last year and Lenovo, which acquired the Motorola Mobility handset unit from Google in January, shipped 45.5 million units.

However, as telecoms equipment makers, ZTE and Huawei are set to reap the rewards of contracts to build high-speed 4G mobile networks around the world. ZTE predicts global spending on 4G will be $100 billion in 2014.

ZTE, Huawei and Lenovo need China for the vast majority of their smartphone sales. Huawei and ZTE are set to doubly benefit from China's 4G rollout as they make money from building the networks as well as handsets.