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Jeddah, KSA : Huawei has been named as one of the top 10 most valuable brands for the first time ever in the reputed Brand Finance Global 500 2020 report. The report estimates that Huawei’s brand value is now worth over USD$65 billion, which is up 4.5% year on year.
According to Brand Finance, the global transition to 5G connectivity beginning in 2019 saw fierce competition amongst technology companies. In this environment, Huawei successfully expanded into markets traditionally covered by Western providers, and despite some controversy in the US, the company made clear headway. Overall, the report notes that global consumers continue to hold the tech sector in high regard.
The recognition from Brand Finance follows Huawei overtaking Apple to become the world’s second bestselling smartphone brand in 2019, according to reports from Strategy Analytics, Counterpoint Research, and Canalys. Its smartphone business shipped 240 million units globally throughout 2019.
Huawei also remains the world’s leading maker of telecom networking equipment in addition to providing end-to-end solutions in computing and device technologies. The company is an active member of more than 400 standards organizations, industry alliances, and open source communities, and last year ranked fifth on the 2019 EU Industrial R&D Investment Scoreboard as one of the biggest investors in research and development worldwide.
This focus on innovation enabled Huawei to expand its solutions portfolio across enterprise and consumer segments in 2019. Dominance in the 5G space was bolstered by new AI capabilities and chipsets. Huawei brought many of these capabilities to the Middle East as a partner of choice to telecom operators, governments, and enterprises. Globally, more than 700 cities and 228 Fortune Global 500 companies have chosen Huawei as their digital transformation partner.
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About Huawei
Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. With integrated solutions across four key domains – telecom networks, IT, smart devices, and cloud services – we are committed to bringing digital to every person, home and organization for a fully connected, intelligent world.
Huawei's end-to-end portfolio of products, solutions and services are both competitive and secure. Through open collaboration with ecosystem partners, we create lasting value for our customers, working to empower people, enrich home life, and inspire innovation in organizations of all shapes and sizes.
At Huawei, innovation focuses on customer needs. We invest heavily in basic research, concentrating on technological breakthroughs that drive the world forward. We have more than 180,000 employees, and we operate in more than 170 countries and regions. Founded in 1987, Huawei is a private company fully owned by its employees.
For more information, please visit Huawei online at www.huawei.com or follow us on:
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