BEIJING, May 7 -- China's leading telecom equipment manufacturer, ZTE Corp., was ranked third globally in patent applications under the 2014 Patent Cooperation Treaty (PCT), according to the companying, citing the World Intellectual Property Organization (WIPO) on Thursday.

More than 12,000 handset-related patents have been granted to ZTE. They hold 13 percent of the world's 4G-specific patents.

Among all Chinese cellphone companies in the U.S. market, ZTE has the biggest market share, and one of the four most popular brands in the market, according to the company.

More than 10 percent 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 U.S. dollars) in research and development, and it has 26,000 R&D employees, which account for 37.5 percent of all employees.

The company earned 883 million yuan in net profits in the first quarter of 2015, up 41.91 percent year on year. Operating revenue increased by 10.21 percent year on year to 21 billion yuan.