Huawei named one of top 10 most valuable brands by Brand Finance

Huawei, innovative smartphone manufacturer, recently announced that Brand Finance, a leading brand valuation and strategy consultancy headquartered in UK, has named Huawei one of the top 10 most valuable brands for the year 2020. In the recently published Brand Finance Global 500 2020 report, Huawei is the third Chinese company on the list with a brand value of US$ 65.084 billion, up 4.5 per cent year-on-year.

This is the first time that Huawei has entered the top 10 of the Brand Finance Global 500 list.

“Clearly the next big opportunity for the telecom 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,” writes Brand Finance in the report.

With 205 companies accounting for 45.4 per cent of the top 500, US is the most represented economy in the ranking with a combined brand value of US$ 320.4 billion. China follows closely with 70 companies, equivalent to 18.9 per cent, and a combined brand value of US$ 133.4 billion.

The technology sector continues to draw the most attention as the most valuable sector. Of the 500 most valuable brands, 46 of them – or 14 percent – originated from the tech sector. Together, they have a combined brand value of US$ 986.5 billion. Huawei is the sole Chinese tech brand among the top 10 most valuable brands.