Huawei announced unaudited financial results which it said “indicate continued strong growth and sales momentum”.

The Chinese telecoms equipment vendor expects to record global sales revenue of CNY238 billion ($39.4 billion) to CNY240 billion ($39.7 billion) in 2013, an 8 per cent year on year increase (11.6 per cent in US dollars).

Huawei’s operating profit for 2013 is expected to be between CNY28.6 billion and CNY29.4 billion. The projected figures are around 20 per cent higher than the CNY20.0 billion operating profit reported for 2012.

Huawei attributed its ongoing growth to a “continued commitment to innovation”. The company’s investment into research and development for last year exceeded CNY33 billion ($5.46 billion), around 14 per cent of the company’s sales revenue.

The company also reorganised its corporate management structure, along with a number of initiatives, to improve operating efficiency.

The carrier network, enterprise and consumer business groups all saw growth during the year.

More than 75 per cent of the carrier network business group’s revenue came from the top 50 operators in the world.

The proportion of revenue from services and software in the carrier network business rose to 37 per cent compared to 34 per cent in 2012.

And on the devices side, EVP at Huawei’s Consumer Business Group Colin Giles revealed at CES in Las Vegas last week that Huawei is targeting 80 million smartphone shipments in 2014.

In 2013, 87 per cent of Huawei’s handset shipments were smartphones, making it the third largest smartphone vendor globally.

Meanwhile the company has committed to invest $600 million by 2018 to support research and innovation around 5G network technologies.

Huawei’s audited results will be announced during the second quarter of the year.