Z-obee Holdings, the China-based designer and manufacturer of mobile handsets, says it posted a 166.9% y-o-y rise in net profit to $1.81 million ($2.5 million) for Q3FY2010.

Revenue rose 169.9% to US$46.1 million led by sales of its VIM brand of mobile phones and trading of CDMA-related components as a result of the recovering mobile phone industry.

Gross profit in Q3 improved by 186.32% to US$3.5 million compared to US$1.2 million in Q3FY2009.

General decrease in the bank borrowing interest rates led to lower finance costs in Q3FY2010 of 11.67% compared to Q3FY2009.

China has the largest mobile subscriber base in the world.

In 4Q2009, mobile phones sold in China’s domestic market amounted to 48.775 million sets, up 24.8% compared to the previous quarter, according to Xinhua news agency. At the end of 2009, China has a total mobile subscriber of 747.4 million.