Chinese tech giant Huawei has announced that it has accelerated its revenue growth in the first six months of the year. The company's earning stood strong despite the global decline in smartphone demands. Huawei performed better than its close rivals, Apple and Samsung, in its domestic market.

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In the period spanning from January to June this year, Huawei recorded a sales output of 245.5 billion Yuan (about $36.7 million), according to Tech Node. Compared to its performance in the same period last year, Huawei's sales has grown by about 40 percent. On the other hand, Huawei revealed that its operating margin this year fell to 12 percent compared to the 18 percent it recorded in 2015.

In a statement acquired by Nikkei Asian Review, Huawei chief financial officer Sabrina Meng said, "We are confident that Huawei will maintain its current momentum and round out the full year in a positive financial position, backed by sound ongoing operations."

Based on the latest statistics, Huawei is now the third largest smartphone manufacturer in the world and China. The company was able to ship around 56 million smartphone units in the first half of 2016, an increase of 28 percent compared to its output in 2015. At the same time, Apple shipped 89.5 million units, while Samsung shipped 158 million units.

Despite its growing consumer base, Huawei's dominance in China is being threatened by growing companies like Oppo and Vivo.

TagsHuawei, Huawei News, Huawei growth, Huawei market, Huawei sales