Huawei revenue soars 70%, boasts 108M mobile shipments

It appears Chinese mobile maker Huawei Technologies isn't only a favorite in its home market, but overseas as well.

The Shenzhen-based tech giant has revealed it shipped 108 million smartphones in 2015, exceeding its own expectations with a 44 percent increase in sales, compared to 2014.

A mobile phone made by Chinese telecom equipment maker Huawei is displayed in a store in Beijing on August 3, 2015.
Greg Baker | AFP | Getty Images

On top of that, Huawei's revenue rose to over $20 billion, an increase of almost 70 percent year-over-year, demonstrating that its business — which sells smartphones and tablets — is proving popular among Western Europe as well as domestic consumers.

Huawei's two greatest smartphone rivals worldwide are leading brands Apple and Samsung; however the future of both of these brands are being questioned as they enter 2016.

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While many analysts believe Apple overall is set to have a great 2016, analysts remain mixed on the future of its smartphone sales.

"2016 is the year when they (Apple) are really going to face their biggest serious challenges in a long time," Bob O'Donnell, founder of TECHnalysis Research, told CNBC in December.

"When it comes to the iPhone 7 there are a lot of questions. The problem that's happening is that people are starting to hold onto their phones for a longer period of time. …It's going to be very difficult to compel people to move forward."

In addition, Samsung Electronics CEO, Kwon Oh-Hyun warned employees in a New Year's address that low global growth was set to persist in 2016, adding that many of its core products faced heightened competition.

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Huawei's latest sales figure come as the firm unveils its latest flagship smartphone, the "Mate 8", to U.S. consumers at the (CES) in Las Vegas.

The premium smartphone is priced around 599 euros ($644) for its base model, highlighting the company's desire to become a more recognized brand worldwide, with its shift towards high-cost smartphone models.

Huawei has had a mixed relationship with the U.S. market and its telecom networking equipment has effectively been banned on security fears. However, the company has recently hinted that it is planning a push for its consumer products in the country.

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In July 2015, Huawei's Consumer Business Group CEO, Richard Yu explained to CNBC how innovation and development into the firm's products helped spur rapid growth.

Yu confirmed at the time that he was confident the company would fulfill its target of 100 million shipments in 2015, and wasn't afraid of competition from the likes of Apple.

"We are ready for the competition" Yu explained.

"We are a global company and we are looking (at) the global market," adding that the company was confident that it would have more strong global growth in the future, with its innovation and technology capabilities.

By CNBC's Alexandra Gibbs, follow her @AlexGibbsy and @CNBCi