ZTE, China’s second largest telecom equipment and systems provider, has announced its goal to sell more than 50 million smartphones this year, according to Commercial Times and Want China Times.

ZTE and its chief domestic rival Huawei have for the first time joined the ranks of the world’s top five smartphone makers, ranking fifth and third in the fourth quarter of last year respectively, squeezing out LG and HTC. ZTE sold 12 million handsets in 2011 and 35 million in 2012. ZTE wants to close the gap with market leaders Apple and Samsung in the next three years. Around 40% of global mobile phone sales came from the Chinese market in 2012, though the US market saw the fastest growth.