Chinese handset maker Huawei Technologies expects its smartphone chip business will help further drive revenue, signaling that the company could try to compete in the world's mobile chip market, ComputerWorld reports.

"In the future, whether it be mobile broadband devices, tablets, or smartphones, Huawei will be able to provide its own core chip solution," said Huawei executive vice president Eric Xu.

He made the comment on Wednesday, April 25 during the company's annual analyst summit, when asked how Huawei would grow its smartphone market share without losing money to marketing efforts.

"If we cannot make money from smartphones, we can still make money from the chipset offerings," Xu said. "If we can make money from every smartphone chip, then it will be substantial."

This year, Huawei unveiled its own in-house developed quad core processor when it announced the company's Ascend Quad family of smartphones. Huawei's K3V2 quad core processor is based on the ARM architecture and has a clock speed running at either 1.2 GHz or 1.5 Ghz.

The Chinese handset maker has previously used chips from other vendors for its smartphones. But it also has a division called HiSilicon Technologies, which developed the K3V2 chip, along with other wireless baseband processors.

Entering the mobile chip market would mean Huawei would compete against well-established players including Qualcomm, Nvidia and Texas Instruments, which already supply processors used in some of the hottest smartphones and tablets in the market.

Huawei is best known as supplier of telecommunication equipment. But the company has big ambitions in the smartphone market, where it intends to compete by offering both lower-end and higher-end devices. Last year, the company sold 20 million smartphones.