This is the first time that Huawei was included in the Top 10 list
Brand Finance, a leading brand valuation and strategy consultancy based in the UK, has recently named Huawei as one of the top 10 most valuable brands in the world. This is the first time that Huawei made it to the list.
In the recently published Brand Finance Global 500 2020 report, Huawei is the third Chinese company on the list with a brand value of US$65.084 billion, up by 4.5% year-on-year.
Clearly the next big opportunity for the telecoms industry, the 5G space is inviting fierce competition, with Huawei expanding into markets traditionally covered by Western providers. Despite sparking controversy, the Chinese giant is making clear headway, and with a brand value of US$65.1 billion, now counts among the world’s top 10 most valuable brands for the first time.
With 205 companies accounting for 45.4% of the top 500, US is the most represented economy in the ranking with a combined brand value of US$320.4 billion. China follows closely with 70 companies, equivalent to 18.9%, and a combined brand value of US$133.4 billion.
The technology sector continues to draw the most attention as the most valuable sector. Of the 500 most valuable brands, 46 of them – or 14% – originated from the tech sector. Together, they have a combined brand value of US$986.5 billion. Huawei is the sole Chinese tech brand among the top 10 most valuable brands.
Huawei’s brand value growth can be attributed to its commitment to innovation to continually improve product competitiveness and consumer experience.
Looking at the future, Huawei remains committed to the all-scenario strategy. Richard Yu, CEO of Huawei Consumer Business Group, said that the all-scenario strategy will remain the primary focus of Huawei for the next five to 10 years.
We are steadfast in our commitment to creating an integrated ecosystem in which tablets, PC, VR devices, wearables, smart displays, smart speakers, cars and IoT devices are all connected to smartphones to deliver a truly seamless user experience.’
In 2019, Huawei predicted that it would ship 240 million units of smartphones and retain its position as the world’s second largest smartphone manufacturer. The company shipped more than 44 million units of its Huawei Mate Series and Huawei P Series flagship devices, recording a 50% increase year-on-year. Winning critical and popular acclaim for their technological breakthroughs, Huawei’s 5G smartphones recorded 6.9 million unit shipments as of December 2019.
Last year, Huawei also built out its all-scenario experience by introducing a range of new products spanning multiple categories, including tablets, PCs, wearables and IoT devices in the HiLink ecosystem, all of which exhibited a certain degree of growth.