Huawei has announced that Brand Finance, a brand valuation, and strategy consultancy, has named Huawei one of the top 10 most valuable brands for the first time ever.
In the recently published Brand Finance Global 500 2020 report, Huawei is the third Chinese company on the lits with a brand value of US $64.084 billion, up 4.5% year-on-year (YoY).
“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,” says Brand Finance.
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 Huawei Mate and P series flagship devices with 50% on year increase. As of December 2019, Huawei sold 6.9 million 5G smartphones.
Last year, Huawei also introduced a range of new products spanning multiple categories, including tablets, PCs, wearables and IoT devices in the HiLink ecosystem.