A statement copied to the Ghana News Agency said during the first three quarters of this year, Huawei generated 86 billon dollars in revenue, representing an increase of 24.4 per cent year-on-year.

It said the company's net profit margin in this period was 8.7 per cent.

The statement said the growth showed that Huawei had maintained its focus on Information Communication Technology infrastructure and smart devices, and continued to boost the efficiency and quality of its operations.

It said it efficiency and innovativeness contributed to increased operational and organizational stability and solidified the company's performance in the first three quarters of 2019.

The statement said the company would continue to launch innovative solutions with leading carriers including 5G Super Uplink, smart & simplified transport networks.

It said over the years the company had also worked with industry partners to establish an industry alliance and an industry innovation base for 5G deterministic networking to enable the innovation and growth of carriers.

"To date, Huawei has signed more than 60 commercial contracts for 5G with leading global carriers and shipped more than 400,000 5G Massive MIMO active antenna units (AAUs) to global markets. The production and supply of Huawei's optical transmission, data communications, and IT products grew steadily," it said.

In the enterprise business, the statement said the company launched the Huawei Horizon Digital Platform, built on Huawei's extensive technological experience and would help stakeholders including government, public utilities, finance, transportation, and electricity to speed up their digital transformation.

"By the end of Q3 2019, more than 700 cities, 228 Fortune Global 500 companies, and 58 Fortune Global 100 companies had selected Huawei as their partner for digital transformation," the statement said.

According to the statement the company had launched innovations include the HUAWEI CLOUD Ascend AI cluster services, 112 new services powered by Kunpeng and Ascend processors, and Industrial Intelligent Twins.

It said in the consumer business, Huawei's smartphone business had grown steadily and that at the first three quarters of 2019 exceeded 185 million units, representing a year-on-year increase of 26per cent.

"The Vision smart screen, featuring unique innovations in software and hardware, was also launched in Q3, gaining high acclaim from the industry and consumers," it said.

"A more robust ecosystem that focuses on consumers and delivers a more seamless intelligent experience across all major user scenarios is now taking shape".