China's largest telecommunications equipment manufacturer, Huawei Technologies has said that it has an open mind about an Initial Public Offering (IPO).

The remarks about confidence over the issue of share to the public were made after the company reported sales that surpassed that of Ericsson AB. Chief Financial Officer Cathy Meng Wanzhou said that the company is not looking to raise funds at the moment and the IPO would depend upon the level of investor interest in the company's shares.

She also said that the company is expecting its sales to increase 12 per cent during this year following a 8 percent rise recorded in the previous year. Analysts said that besides financial benefits, an IPO would help the company boost transparency and reduce security concerns across several nations around the world.

A US congressional investigation of a year had concluded that Chinese telecom companies including Huawei and ZTE pose a security threat to the country and should be barred from contracts and acquisitions in the country. It is believed that the company is tightly controlled by the government forces in China and is thus accused of having suspicious links to the Chinese authorities.