Huawei the Chinese telecoms company is slowly and stealthily advancing on the top two smartphone makers Apple and Samsung.
The firm reported today that its profits are up 30 percent (driven by strong Smartphone sales) with revenues rising to $61 billion in a statement accompanying its annual report.
Huawei also reported that it was the first Chinese company to sell more than 100 million Smartphone’s in one year, 40 percent of which were exported around the world including to Nigeria.
Huawei says it is confident it will overtake Apple and Samsung to become the world’s top smartphone maker by 2020, according to a speech by Richard Yu, head of Huawei’s consumer business group, in February.
Huawei also announced on Friday that it spent 15 per cent of its revenues — Rmb59.6bn — on research and development.
![TNS Event](https://i.ibb.co/8cBH227/thumbnail-TNS-GOOGLE-RESIZE-300x250.jpg")
