Huawei leaps 11 points in annual Fortune 500 list
Huawei has been ranked 61st on this year’s Fortune 500 list – an 11-point jump from last year and an impressive 68-point leap from 2017.
The Fortune 500 list ranks companies according to their revenue and profit, focusing on the size of the companies. The Fortune 500 rankings have become an important indicator used by companies to measure their own strengths, size and international competitiveness, a parameter of the global economy that transcends beyond borders, nationalities and cultural differences.
Huawei’s elevated ranking is reflects its 22 per cent increase in revenue and a 27.5 change in profits year-over-year. And the company’s rankings progress goes far beyond profitability.
“Our continued elevation in the Fortune 500 list rankings is yet another notable marker of success for the company in 2019,” said Richard Yu, the CEO of Huawei Consumer Business Group. “Our dedication to delivering the latest technologies to our customers, with a sharp focus on innovation through our commitment to investing in R&D enabling us to continue to enjoy record success.”
Earlier this year, Huawei ranked 47th on BrandZ’s annual Top 100 “most valuable global brands”, in large part due to groundbreaking product innovations such as the Huawei P30 smartphone’s advanced camera system, the unprecedented technological innovations baked into the Huawei Mate X handset, as well as the anticipated Mate 20 X (5G).
