(Yicai) March 25 -- Huawei Technologies’ suppliers have started providing the Chinese telecoms giant with parts for its new high-end flagship smartphone series, according to a media report.

Huawei’s shipping target for the P70 series is relatively optimistic, industry chain insiders told China Securities Journal yesterday.

The P series is Huawei’s high-end flagship phone series with advanced photography functions as its main selling point. The P70 is expected to have core artificial intelligence photography with great updates in camera parts, Citic Futures earlier said in a research report.

“Our gross profit margin for supplying Huawei has increased, which is beneficial for the company,” an insider at a Huawei supplier told CSJ.

Huawei has not yet announced the official release date of the P70. Some institutions have predicted that the Shenzhen-based firm’s new flagship line will hit the market next month, becoming one of the hot-selling handsets in the first half of the year.

Huawei’s smartphone sales have increased significantly since the launch of the Mate 60 Series in the second half of last year. According to Counterpoint Research, the company’s phone sales jumped 64 percent in the first six weeks of this year from a year earlier, ranking second in the Chinese smartphone market.

The Mate and P series are Huawei’s high-end flagship series. The former focuses more on business and utility functions, while the latter has more fashionable and personalized designs. Mate smartphones are pricier than P ones, which are more for the mid-to-high-end market.

Editor: Futura Costaglione