The Chinese mobile giant is launching a line of smartphones with a price point of less than £100 each, targeted at pay-as-you-go customers.

The company, which also supplies the network technology and towers to mobile operators, turned over 98.3bn yuan (£9.4bn) in the six months to June 30 and said it is on track to hit the 199bn yuan this year. It posted an operating profit of 12.4bn yuan.

Huawei has a longstanding business supplying “white label” unbranded mobile phone handsets for other providers, but will launch under its own brand name – pronounced “wayway” – in the autumn with a smartphone priced at less than £100 which is targeted at pay as you go customers. Katherine Rushton/The Telegraph.

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