Huawei Technologies Co., one of the world’s largest maker of telecom gear, on Monday posted a 40 per cent rise in first-half sales revenue and said it would “maintain current momentum” this year.

Sales revenue reached 245.5 billion yuan ($36.8 billion) in the first six months of 2016, the company said in a statement.

Huawei had ploughed 15 per cent of its 2015 revenue into research.

“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,” Chief Financial Officer Sabrina Meng said in the statement.

“We achieved steady growth across all three of our business groups, thanks to a well-balanced global presence,” Meng said, referring to the company’s telecom, consumer device and enterprise business segments.

The company earlier this year set a revenue target of $75 billion for 2016.

Last year, Huawei reported a 30 per cent rise in first-half revenue.

Huawei became the world’s third largest smartphone vendor last year, after Samsung and Apple Inc., by moving into higher-end models and winning over customers seeking premium features.