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BEIJING: China's leading telecom equipment manufacturer, ZTE Corp, was ranked third globally in patent applications, the company said citing the World Intellectual Property Organization (WIPO).More than 12,000 handset-related patents have been granted to ZTE. They hold 13% of the world's 4G-specific patents. The company was ranked third under the 2014 Patent Cooperation Treaty (PCT).Among all Chinese cellphone companies in the US market, ZTE has the biggest market share, and one of the four most popular brands in the market, according to the company, state-run Xinhua news agency reported.More than 10% of ZTE's annual business revenue goes toward innovation and research, said CEO Shi Lirong.Over the past five years, the company has invested over 40 billion yuan ( $6.54 billion) in research and development, and it has 26,000 R&D employees, which account for 37.5% of all employees.The company earned 883 million yuan in net profits in the first quarter of 2015, up 41.91% year-on-year.Operating revenue increased by 10.21% year-on-year to 21 billion yuan.