It posted a 30 percent increase in first-half revenue to $28.3 billion and said it would achieve "effective growth" in 2015.

This is partly because where the company makes most of its cash is in communications towers and other infrastructure which has not suffered from the same problems. Its main rival is Ericcson which also did really well in this quarter.

Huawei had an operating margin of 18 percent in the first six months of 2015, compared with 18.3 percent in the previous half-year.

Huawei CFO Meng Wanzhou said that Huawei achieved stable and healthy growth in all of its three business segments.

"We are confident that we will maintain effective growth and steady and healthy development in all business segments in 2015."

 

Huawei earlier this year set a target of 20 percent growth in global revenue for 2015.

Huawei had targeted overall revenue of $70 billion by 2018, which is 10 percent annual growth. It posted 21 percent revenue growth last year. Last year, Huawei reported a 19 percent rise in its first-half revenue. The company reported an operating margin of 11.9 percent in 2014.

Just think how much it would have made if the US had not been paranoid about it being a spy for the Chinese government.