Huawei today released its performance for the first half of 2012 with sales revenue of CNY102.7 billion (US$16.3 billion), an increase of 5.1% over the first half of 2011. Operating profit was CNY8.79 billion (US$1.4 billion), a decrease of 22% from last year.

The company does not report net profit figures.

"In 2012, Huawei outlined our new pipe strategy and we will focus even further on this approach moving forward to ensure more effective growth and greater efficiency to drive continued improvements in operating performance," said Ms. Meng Wanzhou, Chief Financial Officer of Huawei. "We are relatively optimistic about our operating performance and profitability for the remainder of 2012."

Huawei says that it now holds 12.16% market share for smartphones in China, ranking second according to Analysys International.

In its statement, Huawei added that it has also stepped-up its move towards greater openness and transparency, without elaborating on how.