ISTANBUL -- China's Huawei Technologies launched its new smartphone Ascend P1 in a grand ceremony in Istanbul on Wednesday.

More than 140 people, including industry specialists, marketing officers and journalists, attended the launching ceremony.

Huawei's Central Asia and Caucasia Region President Ming Sun claimed that Ascend P1 is the thinnest smartphone in the world so far.

Ascend P1 is equipped with 1.5 gigahertz dual-core CPU and Android 4.0 system. It also possesses 8-megapixel rear-facing camera with HD video capture.

Cooperating with Turkcell, Turkey's leading mobile phone operator, Huawei Ascend P1 will hit market on July 19. It will be available in all Turkcell stores across Turkey. The price of Ascend P1 is around 1200 Turkish Lira ($667).

Sun said Huawei Ascend P1 especially targets the young people in Turkey, who follows fashion and loves new technology. "Compared with iPhone or Samsung Galaxy, Huawei Ascend P1's price is more affordable. And our quality is very competitive," Sun told Xinhua.

Huawei aims to establish China's cellphone brand in Turkey through the launch of Ascend P1. Besides Turkey, Ascend P1 would be launched globally in over 130 countries.

Huawei starts its Turkey business in Ankara in 2002. By now Huawei Turkey employs over 850 people and serves as a regional hub for Central Asia and the Caucasia.

Working closely with local universities and research institutes, Huawei Turkey invests over $50 million in establishing research and development center in Istanbul to develop the latest telecom technology.