Huawei joins the Brand Finance's top 10 most valuable brands for the first time

For the first time, Chinese tech giant Huawei has entered the list of the top list of most valuable brands worldwide.

Huawei entered the rank by bagging the tenth spot

Another big achievement for the Chinese tech giant

Brand Finance is one of the leading brand valuations and strategy consultancy headquartered in the UK. It has submitted an annual report, naming the most valuable and strongest brands globally. According to the report,  Huawei is the third Chinese company on the list. It has a brand value of USD 65.084B, with a year-on-year (YoY) increase of 4.5 percent. It is also notable that Huawei is the only Chinese tech brand that entered the top 10 listings.

Huawei is the only Chinese tech brand that entered the list

The consultancy company stated that there was stiff competition among tech companies when the transition to 5G connectivity began last year. Huawei did a successful expansion into markets typically covered by Western firms, even there was a controversial ban in the US. 

Moreover, the report stated that the technology sector has the most attention as the most valuable sector among nine others. Forty-six brands out of the 500 most valuable came from the tech industry. The combined brand value of these brands amounts to USD 986.5 billion. 

The technology sector has the most brand value

The Chinese tech giant claimed that their brand's growth can be caused by its commitment to innovation o continually improve product competitiveness and consumer experience. Last year, Huawei was able to sell more than 44 million units of flagship devices from Mate Series and P series. This resulted in a 50 percent increase in its year-on-year revenue.

Additionally, 5G smartphones from Huawei hit a record of 6.8 million units shipped as of December last year. The company was also able to introduce a range of new products from diverse categories such as tablets, PCs, wearables and IoT devices in the HiLink ecosystem.

CEO of Huawei Consumer Business Group Richard Yu shared that the all-scenario strategy will remain the primary focus for the next five to 10 years. He further explained,

We are steadfast in our commitment to creating an integrated ecosystem, in which tablets, PCs, VR devices, wearables, smart displays, smart speakers, cars and IoT devices are all connected to smartphones to deliver a truly seamless user experience.

Are you guys excited about what Huawei will bring in the coming years?

Sources: Brand Finance, Huawei Press News