Huawei's profits for 2014 were up significantly. The Chinese company had revenue of $46.4 billion and profits of $4.5 billion. With more than 75 million handset sales during the year, Huawei was able to report a profit increase of 33% for 2014. Huawei's phone sales and 4G equipment sales both contributed to the strong financial report.

Phones from the Chinese company are taking off in Europe, India, and other large markets. Huawei's 4G equipment has been used all around the world.

Huawei is also expanding its higher-end phone lineup with devices such as the Ascend P8 which should launch shortly.