Huawei sold a lot of smartphones last year according to a report from the Wall Street Journal.
After reviewing a letter sent to employees by Richard Yu, a senior executive in Huawei’s consumer business group, the Journal estimates the company’s revenue from smartphones and other consumer products jumped 70 percent last year.
Quoting from the letter, the Journal reports Yu wrote that he expects the majority of mobile phone OEMs to go out of business over the next three to five years, stating that Huawei’s consumer business will be one of the two or three to survive and will eventually be “number one in the industry.”
According to the report, Huawei’s consumer business group likely generated $20 billion last year. Much of the company’s growth was due to a focus on higher-end smartphones, according to the letter.
According to IDC, Huawei held a 7.5 percent share of the global smartphone market at the end of the third quarter. That would make the company the third largest vendor of smarpthones behind Samsung and Apple.