Huawei Launches New Ascend P7

Huawei Recently Launched A New Ascend P7 smartphone this month. China's Huawei Technologies Ascend P7 device is the company’s second flagship smartphone. The Ascend P7, was launched as part of its efforts compete amongst Samsung and Apple. Billed as the world's slimmest phone at 6.5 mm thick is said to go on sale in 31 markets, including Britain, Germany and China, starting this month for 449 euros ($630) without a SIM card or service contract. It will not be sold in the United States.

With the Ascend P7, which succeeds the P6 launched in June 2013, Huawei hopes to create a hit to rival Samsung's Galaxy S5 and Apple's iPhone 5S, said Shao Yang, vice president of marketing for the consumer business. "We want to provide a premium product but not charge a premium price," Shao Yang said in an interview. "Our screen, materials, camera, and power consumption are just as good and sometimes better than the Galaxy and iPhone."

Huawei's revenue rose almost 12 per cent last year to $39.5bn, generating a net profit of $3.5bn. In 2013, Huawei invested $5.1bn in research and development, and Mr Ren said it would continue to focus on developing new products. He said Huawei would also keep investing in countries such as the UK and parts of Europe that have been more welcoming to the Chinese company. CNBC’s article highlighted that continued investment in businesses in the region would mean that in future it would be perceived as a European company, he added.

Huawei Technologies Co. Ltd. is a Chinese multinational networking and telecommunications equipment and services company headquartered in Shenzhen, Guangdong. Huawei was founded in 1987 by ex-military officer Ren Zhengfei and formed as a private company owned by its employees. Its core missions are building telecommunications networks; providing operational and consulting services and equipment to enterprises inside and outside of China; and manufacturing communications devices for the consumer market