Huawei, currently the world’s third-largest smartphone player in the industry, behind Apple and Samsung, has announced its results for the first half of 2018. The Chinese¬†mammoth was able to generate a huge 14% profit margin which represents a 15% revenue¬†growth as compared to the first half of 2017.

Huawei achieved a sales revenue of RMB 325.7 billion ($47.66 billion) in just the first six months of this year, which is quite impressive.

Huawei has recently gained substantial momentum in its financial growth all around the globe with its staggering sales and the company itself confidently predicts its “strong financial position” at the end of 2018, if things go with the same pace.

However, these results are not surprising at all. Huawei was the first manufacturer to provide AI and since then it’s been experimenting to get the most out of smartphones which have resulted in technological breakthroughs in design and mobile photography by producing phones with unrivaled beauty like the Honor 10 and ultimate cameras like the P20 Pro.

The company has already launched GPU Turbo technology which will not only enhance the phone’s performance by 60% but also reduce the battery consumption by 30%.

Huawei said that it is focusing on solving customer problems and developing 5G, smart network, cloud data center, and other technologies to help operators build a cloud-oriented network for the future.

All these factors have contributed to the rise the revenue growth as well as the ranking of Huawei in the Fortune Global 500 list where the company now sits at No. 72. The company says that its technology has been spread across 170 countries in the world.

Huawei also plans to supersede Samsung in announcing the world’s first foldable smartphone and if the company continues to grow at this pace, it may take the crown of the Android king in the coming years.