Last year, Huawei reported a 19 per cent rise in its first-half revenue.
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The firm had a 5.four % share of the worldwide smartphone market within the first quarter of this yr, a distant fourth behind Samsung Electronics, Apple Inc and Lenovo…
Huawei had set a global growth target of 20% this year and seeks to hit $70 billion in sales by 2018, which translates as approximately 10% annual growth.
Huawei has claimed strong financial growth across all of its major businesses as the Chinese manufacturer continues to go from strength to strength.
In a recent report, global professional services giant Deloitte estimated that more than one billion of the 1.4 billion smartphones forecast to be sold this year would be bought as upgrades, generating total industry sales of about US$300 billion. It posted 21 percent revenue growth previous year.
But Huawei, which has been banned from bidding for sensitive infrastructure contracts in the USA and Australia, insisted its systems were secure.
The Shenzhen-headquartered company said it also invested in research and development for software-defined networking, cloud computing, and 4G network construction throughout China.
“In addition, the growth in global data traffic drives investment in network capacity expansion, while carriers’ digital transformation pushes up investment in information and communications technologies”.
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Meng Wanzhou, chief financial officer of Huawei, said its smartphone business has been making “solid progress” in the first half.
