Chinese vendor Huawei has set the ambitious targets of shipping 140 million smartphones this year – up 30 per cent from 2015 – and revenue from its smartphone range hitting $40 billion in 2018.

Last year smartphone shipments surpassed its 100 million target, expanding to 108 million units, including 40 million from its Honor unit.

A Huawei spokesperson told Mobile World Live it is targeting sales of its consumer group reaching $30 billion this year, up 50 per cent from last year. The group’s revenue soared 73 per cent last year to $19.95 billion (CNY129.1 billion), which it attributed to “increased demand for high-quality products that deliver a premium user experience”.

The company expects mid-range and high-end smartphones to account for 55 per cent of total shipments this year, up from 31 per cent in 2015. Its premium range represented just 18 per cent of shipments in 2014, said Glory Zhang, CMO of its consumer group.

She said its tablet shipments also posted strong growth, increasing 130 per cent last year.