Yu Chengdong, chief executive of Huawei’s consumer sector, said the company expects to sell about 250 million to 260 million units of smartphones globally this year, which will make it the world’s largest smartphone seller.

Speaking at a company event in Shanghai, Yu noted that Huawei will focus on the mid- to high-end smartphone market. It presently holds about 34% marketshare in the domestic mid- to high-end market, and expects the ratio to reach 50% by the end of this year, Yu was quoted as saying in a Cailian Press report.

In addition, Yu disclosed at the event that Huawei expects to make the dream of smart Internet-Of-Things come true within three years, and realize a cashflow of US$10 billion, according to another report by ThePaper.

One third of Chinese smart home appliances will support the Huawei HiLink smart platform at that time. The company said there are already more than 200 business partners connected to the HiLink platform.

He said Huawei never intended to produce home appliances by itself, but to establish a new and open smart ecosystem to help the transformation of traditional home appliance makers.