Huawei, a leading global information and communications technology solutions provider, announced on July 24 that its sales revenue in the first half reached 113.8 billion yuan ($18.4 billion), up 10.8 percent year on year.

"Our success in the first half was mainly driven by steady growth of the carrier network business and the fast growth of consumer business," said Cathy Meng, the company's CFO.

"From these positive indicators, we believe Huawei will generate strong performance and profit margins in the second half and we are confident of achieving our goal to increase revenue by 10 percent."

Huawei, based in the coastal city of Shenzhen in South China's Guangdong Province, jumped to 315th on the 2013 Fortune Global 500 list from 351st a year ago. It has surpassed Stockholm-based Ericsson in rankings with increased revenues and solid earnings propelled by strong smartphone sales.