Huawei Technologies, the maker of smartphones and smartwatches, shipped more than 100 million smartphones in calendar year 2015, the first Chinese company to do so.
The upbeat performance was driven by sales in China and Western Europe, enabling the company to post an increase of 44% over 2014.
The company said its consumer business group comprising smartphones and tablets, recorded a 70% growth in revenues to $20 billion in 2015 on a year-on-year basis.
The performance needs to be seen in the context of a report by research firm IDC that expects worldwide shipments to grow at a lower clip of 10.4% in 2015, down from 27.5% in 2014.
Huawei Technologies shipped 108 million devices in 2015 even as industry leaders Samsung Electronics and Apple are facing tough competition accentuated by a weakening global economy.
Samsung has said that it "expected a difficult business environment in 2016", while Apple Inc is reported to be planning to cut production of its latest iPhone models by about 30% in the first quarter this year to reduce increasing inventories.
However, analysts do not see Huawei Technologies posing a significant challenge to Samsung and Apple, given that other Chinese vendors such as Xiaomi and Lenovo are engaged in a price war with Huawei.
"In China it's true that Huawei grew tremendously over the past six months, but it's a bit of a dog fight within the Android ecosystem," Kantar Worldpanel ComTech analyst Carolina Milanesi said, reported Reuters.
"Huawei's going after Xiaomi and all the other smaller Android players," he added.
In the third quarter of CY 2015, Huawei trailed Samsung and Apple with a market share of 7.5%, according to IDC. Samsung led the industry with 23.8% share followed by Apple at 13.5%.
Samsung is expected to declare its October-December quarter growth figures on Friday, Reuters said.
At the CES 2016, Huawei said that it will continue its collaboration with Google to launch a new gold version of Nexus 6P.
"Through the different types of devices Huawei creates, we are convening a new mobile ecosystem of partners that bring together the best in technology and lifestyle design," said Richard Yu, CEO, Consumer Business Group.
It also announced the Huawei Watch for Lady, designed in partnership with Swarovski AG, according to a media statement issued by the company on Wednesday.