July 30th, 2019: Continuing a multi-year track record of acceleration, Huawei has ranked 61st on the Fortune 500 list. This year’s ranking represents an 11 point jump from last year and an impressive 68 point leap from 2017.
The Fortune 500 list ranks companies according to their revenue and profit, focusing on the size of the companies compared with other lists. The Fortune 500 rankings have become an important indicator that renowned companies use to measure their own strengths, size and international competitiveness, a parameter of global economy that transcends beyond borders, nationality and cultural differences.
Huawei’s elevated ranking is well-earned, having demonstrated a 22% increase in revenue and a 27.5% change in profits year-over-year. And yet, Huawei’s prowess goes far beyond profitability.
“Our continued elevation in the Fortune 500 list rankings is yet another notable marker of success for the company in 2019,” said Richard Yu, CEO of Huawei Consumer Business Group. “Our dedication to delivering the latest technologies to our customers, with a sharp focus on innovation through commitment to investing in R&D has enabled us to continue to enjoy record success.”
Earlier this year, Huawei ranked 47th on BrandZ’s annual Top 100 Most Valuable Global Brands, in large part due to ground-breaking product innovations such as the HUAWEI P30 smartphone’s advanced camera system, the unprecedented technological innovations baked into the HUAWEI Mate X handset as well as the highlight anticipated Mate 20 X (5G).
About Huawei Consumer Business Group (CBG)
Huawei Consumer Business Group (CBG) is one of Huawei’s three business groups, providing a range of products including mobile phones, wearables, tablets and laptops. Huawei’s products and services are available in more than 170 countries and are used by a third of the world’s population, ranking second in the world in mobile phone shipments in 2018.
In 2019, Huawei was named number 47 on BrandZ’s Top 100 Most Valuable Global Brands and number 79 in Forbes World’s Most Valuable Brands in 2018.
As a leading technology company, Huawei invests a significant amount of its annual sales revenue to research and development efforts and has established 14 research centers around the world. Among these facilities is the Huawei Aesthetics Research Center in Paris. Huawei’s newest R&D center is the Max Berek Innovation Lab in Wetzler, Germany, where Huawei and Leica are jointly researching technologies to improve mobile device camera and image quality.