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Huawei jumps 11 spots on 2019 Fortune 500 List



Huawei has ranked 61st on the Fortune 500 list. This year’s ranking represents an 11 point jump from last year and a 68 point leap from 2017.

Huawei revenue hikes 30% for the first half despite U.S. restrictions

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 the global economy that transcends beyond borders, nationality and cultural differences.

This achievement of Huawei came after a 22% increase in revenue and a 27.5% change in profits year-over-year.

“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 a commitment to investing in R&D has enabled us to continue to enjoy record success.”

Yash is a graduate of computer science and followed his way into journalism, he is interested in various subjects related to technologies and politics. Yash likes to listen classical songs and has a huge library of classical mixes.