Huawei ranks 6th among world’s most innovative companies in 2020

Global information and communications technology (ICT) solutions provider Huawei has been named as one of the world's most innovative companies for 2020. 

File photo: Huawei logo in China

Huawei among the world's most innovative companies this year

This year, the Chinese company secured the sixth spot, its highest ranking yet after making the list eight years ago.

Top 10 list

Joining Huawei in the top ten were Apple, Alphabet, Amazon, Microsoft, Samsung, Alibaba, IBM, Sony, and Facebook, the report from Boston Consulting Group (BCG) showed.

Top 50

According to BCG, the ranking is based on a survey of 2,500 global innovation executives and assesses companies’ performance on four dimensions of Global "Mindshare", Industry Disruption, Industry Peer View and Value Creation. This year, BCG also added a new scoring dimension that captures each company’s variety and intensity of boundary-breaking, by assessing its ability to breach established industry entry barriers and play in an array of markets outside its own.

When we began the research for this 14th edition of BCG’s Most Innovative Companies report, COVID-19 had not yet emerged. As we explored the data and interacted with clients, however, it became clear that this year’s core findings—about the advantages of scale and the imperative for serial innovation may be even more relevant today as innovation leaders need to adapt to rapidly shifting patterns of supply, demand, consumer behavior, and ways of doing business, the BCG report read.

As the world continues its battle against the pandemic, Huawei has extended its expertise providing innovation efforts by launching the Anti-COVID-19 Partner Program that focuses on artificial intelligence, remote office, smart healthcare, and online education. 

Huawei has allotted more than 10 percent of its annual revenue to finance its research and development. Its push for 5G development alone had a whopping investment of USD 4 billion in the past decade, making it the leading technology giant in that space.