Huawei said it generated sales revenue of 135.8 billion Chinese yuan (21.89 billion US dollars) in the first six months of this year, an increase of 19% year-on-year, with an operating margin of 18.3%. That puts Huawei well ahead of Swedish rival Ericsson, which recorded revenues of about 15.22 billion dollars in the first half. However, unlike Huawei, Ericsson no longer makes handsets.
Cathy Meng, Huawei's CFO, said: "Revenue and profit for the first half of 2014 are in line with our expectations. Driven by increasing investments in LTE networks worldwide, Huawei has further solidified its leadership position in mobile broadband. Rapid growth in software and services helped maintain steady growth in our carrier network business. Our efforts in the enterprise business have begun to pay off....Our flagship smartphone, the Ascend P7, is being sold in more than 70 countries and regions." source: Huawei statement