"In the traditional wireless network equipment business sector, Ericsson remains the world's No 1, without doubt," said Zhao Hailin, an analyst at IHS iSuppli, a United States-based research company.

Huawei met tough resistance in markets such as the US on "national security" concerns, but Ericsson saw no such barriers and managed to grab a large piece of the market there, Zhao said.

Despite lackluster penetration of the US network market, Meng said that 66 percent of Huawei's revenue came from outside China.

About 70 percent of Huawei's revenue was generated from businesses with leading telecom operators, including 45 of the world's top 50 companies in that field, Meng added.

Meng also said that Huawei has an "open mind" about a stock market listing.

"No matter whether we go public or not, we will always honor our commitment to openness and transparency. We will refer to the standards of listed companies to improve ourselves," she said.

Analysts said that Huawei is still a long way from a public listing.

"For Huawei, which has rich channels to raise capital, the momentum to apply for an IPO is not that strong," Zhao with iSuppli said.

"However, like the regular earnings disclosure, a public offering is a necessary step for privately owed Huawei to show transparency," Ji said.

Huawei is employee-owned, with about 65,000 staff members holding shares, Meng said. Her father Ren Zhengfei controls about 1.4 percent of the company, she said.

Contact the writer at shenjingting@chinadaily.com.cn

Related readings about Huawei

Huawei expects net profit to increase 30% in 2012

Huawei to establish Finland R&D center

'Can do' approach spurs Huawei's growth in Europe

China's Huawei blasts US 'protectionism'