Huawei is once again in the news but this time for the right reasons. The Chinese Telecom giant has been rated as one of the top hundred most valuable brands globally by BrandZ. WPP’s research arm Kantar published its annual report of world’s 100 Most Valuable Brands recently.
Kantar ranks Huawei one step up the ladder (from last year) to 47th position with an eight percent increase in brand value. Huawei has consecutively featured for 4 years in the top 50. It has come at the time when Huawei has been facing the heat from the US over after failure of trade talks between the Trump administration and their Chinese counterpart.
Keeping aside the present perils, till date, the company has launched innovative specimens such as the Huawei P30 and the upcoming Mate X foldable handset. These seem to have clearly struck a chord with media and consumers alike, even reflected in sales. It had booked an impressive feat with $109 billion in sales revenue of 2018.
A leading analyst firm IDC had highlighted Huawei’s over 50% year-on-year growth in shipments. It has surpassed Apple and cemented a second position while inching closer to the market leader Samsung.
IDC further noted Huawei’s 19% share in the global smartphone market. This tech giant was the only smartphone vendor at the top of the rankings to experience an increase in shipment volumes throughout the first quarter of 2019.
Other Chinese brands share a similar growth trajectory succeeding in the global consumer economy. Four of the nine new entries to the BrandZ’s report are based in China and there are 15 Chinese companies now in the top 100.
Trailing forward, Huawei could turn the tide with its commitment to developing technologies that benefit society, as well as consumers like ‘AI for Good’ initiative.