Huawei for the first time has enters in the list of the top 10 brands in the world. In the list of ‘Most Valuable Brands 2020’ by Brand Finance, a UK-based brand valuation, and strategy consultancy firm this Chinese technology company has taken the top 10.
In their report, Brand Finance says, “It is very clear that in the future, intense competition from 5G is a great opportunity for the telecom industry. Like Europe, Huawei is expanding its market. Despite many controversies, the Chinese company has been overwhelmingly ahead. The company’s brand value has been estimated at $65.1 billion. As a result, the technology company for the first time has taken in the list of ten valuable brands.
The United States is at the top of the list of 205 US brands in the list made by those companies from around the world. Then there is China’s position. 70 Chinese brands are on this list. The listed American Amazon brand value is $ 220,791.
Most Valuable Brands are listed in the 2020 list is seen, with the technology sector at the forefront. 500 in 46 brands in this list are from the technology sector. The technology sector occupies 14 percent of the brands. The brand value of technology brands stands at US $986.5 billion. Among the Chinese technology companies, Huawei is on the list of the top ten most valuable brands.
Huawei released 240 million units of smartphones in the world market and became the second-largest producing brand in the world in the year 2019. The company, with its flagship Mate and P series, releases more than 44 million units in the smartphone market. As a result, the company recorded a growth rate of 50 percent year-on-year. Until December last year, the company released 6.9 million 5G-supported smartphones.
Last year, many Huawei users were worried about the future of the Chinese company’s products due to Google’s restrictions on Huawei’s use of Android. In that regard, Jeremy Thompson, vice president of Huawei’s executive in the United Kingdom, was said, “We are trying to create an alternative to Android that I believe our users will accept lovely.” But, Huawei has topped the list of the highest brands to tackle those challenges.
Correspondingly, Ren Zhengfei Huai, the former engineer of the People’s Liberation Army, was founded in the year of 1987. At the beginning, Huawei only manufactured phone switches, but as the business grew, telecommunication networks began to build, to provide operational and consulting services, and to deliver content inside and outside China. As of September 2015, Huawei employs 0.1 million manpower, of which about 76,000 work in the Research and Development Department. Huawei has 21 plus research and development institutes, and in 2014, they allocate US $ 6.4 billion for research. At present Huawei has allocated $ 15.3 billion for research and development.
“Huawei will focus mainly on implementing the ‘All-Scenario’ strategy for the next five to ten years,” said Huawei, Richard Yu CEO of Huawei Consumer Business Group, referring to Huawei, which is steadfast in its future lifespan.