ZTE assembling new business unit for "high-end telecom markets"

ZTE is mirroring fellow Chinese manufacturer Huawei's surprising success in the face a crappy economy, posting an impressive 35 percent growth in revenue for the last quarter over the same period a year prior -- and profit wasn't far behind at 29 percent growth. Much of that success can be credited to major wins in the company's 3G infrastructure business, but that may not be the most interesting story to come out of the quarterly report; instead, we're curious to find out more about a new business unit ZTE's throwing together to cater specifically to the needs of "high-end" markets like the US and Europe. Historically, ZTE's bread and butter has been in the low end, but this could mean that the company's looking to move beyond its dwellings on the basic side of regional carriers' lineups -- and seeing how competition is always good, we say bring it on.