Huawei Technologies, China's biggest smartphone maker, has seen revenue increase by 40 percent in the first half of 2016. The company earned 245.5 billion yuan ($36.6 billion), narrowing the gap between industry leaders, Samsung and Apple.

Huawei's market share rose to 8.2 percent in the first quarter compared to last year's 5.2 percent, data from the research firm IDC reveal.  The figure remains a pittance compared to Samsung, which has 24.5 percent of the smartphone market. Meanwhile, Apple's market share dropped to 15.3 percent compared with 18.3 percent last year, Forbes reported.

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The jump in sales proved that Huawei is beginning to conquer the global market. "We achieved steady growth across all three of our business groups, thanks to a well-balanced global presence and an unwavering focus on our pipe strategy," Sabrina Meng, Huawei's finance chief said in a press release, ZDNet reported.

The company's management has expressed assurance that Huawei would continue on its momentum to end the year on a positive financial note.

Financial strategists, meanwhile, have explained that Huawei's success is due to its "aggressive strategy" and substantial investments in its R&D program.

"Huawei (has) quickly moved up the value chain, from producing low-cost product(s) to providing higher-end and more sophisticated products," explained Kamel Mellahi, a professor of strategy management at Warwick Business School. With its focus on developing products to compete with international brands, Huawei's products are now considered "world class" and "innovative."

Nevertheless, the company still needs to focus on providing solutions to challenges it faces, especially in overseas markets, particular in the U.S. and Australia. 

TagsHuawei, smartphone busines, huawei revenue