Chinese tech giant Huawei's sales revenue rose 24.4 percent year on year to 610.8 billion yuan (about 86 billion U.S. dollars) in the first three quarters of 2019, according to the company's quarterly financial statement released Wednesday.

The company's net profit margin in this period stood at 8.7 percent.

Huawei attributed the solid financial performance to its consistent focus on ICT infrastructure and smart devices, and improvement of operation efficiency and quality.

The company has signed more than 60 commercial contracts for 5G with leading global carriers so far as commercial deployment of 5G networks around the world is speeding up.

Huawei's smartphone shipments during this period topped 185 million units, up 26 percent year on year.

A total of three million enterprise users and developers have used HUAWEI CLOUD to develop products and solutions, while over 700 cities, 228 Fortune Global 500 companies, and 58 Fortune Global 100 companies had partnered with Huawei in digital transformation by the end of September, the statement said.