Huawei Technologies Co. is taking on two tech giants Apple Inc. (AAPL) and Samsung Electronics Co. (005930). In a bid to gain as much market share, Huawei recently introduced what they claimed as the world's slimmest smartphone.

Huawei's new Ascend P6 features a depth of of 0.24 inch (6.18 millimeters). The phone will hit stores in China this June while the European release will be in July. The depth of the phones is around 19 percent slimmer than Samsung Galaxy S4 or the iPhone 5.

Huawei has been releasing a series of their line of tablets and smartphones for a time now. The company is also building its cloud computing to boost the company's annual sales to 10 percent for the next five years. According to the Shenzhen-based company, it intends to develop and enhance its products to ensure company growth in five years.

The company is focusing on their mobile devices following banning of their network equipment in the United States. Huawei's sales suffered. The U.S. government has blocked shipment and sales of Huawei products in the country under the suspicion that the devices were aiding the in hacking and providing intelligence to their Chinese counterparts.

The company has strongly denied these allegations.

Features of the Ascend P6 include a 4.7 inch high definition high-definition display, 1.5 gigahertz quad-core processor, 5 megapixel front camera and 8 megapixel rear camera. The device weighs around 4.2 ounces or 120 grams. Samsung Galaxy S4 and iPhone 5 have 0.3 inch of depth. Bloomberg reported 4.3 percent global market share for Huawei's phone for the first quarter of 2013.