The main issue is how to build their core technological capabilities when latecomer firms are transiting from catching-up to leadership. Based on the empirical analysis on Huawei Co., Ltd, this paper examines the effectiveness of technological catch-up of latecomers in both overall technological caliber and core technological caliber. Our results shows that Huawei has basically achieved catch-up in overall technological caliber in both the two key technological fields, but still has a long way to go in core technological caliber. Furthermore, Huawei did better in emerging field than in traditional field on technological catch-up.