Huawei is now ranked the 72nd best global brand in the world moving up 16 points from number 88 the previous year.
This is the second consecutive year Huawei has risen on Interbrand’s 2016 Best Global Brands report since the company became the first mainland Chinese brand to be recognized as a Best Global Brand in 2014.
By Marvelous Chibagidi
According to Interbrand which compiled the list: “Huawei is once again a highlight in the 2016 Best Global Brands report released by Interbrand. Its brand value, approximated at USD $5,835 biillion, increased by 18% compared to a year ago. In Interbrand’s annual report, it is also one of the fastest rising brands in the technology sector, climbing from #88 to #72 in ranking.”
Huawei’s increasing brand influence is mirrored by its steady revenue growth, driven in part by the company’s consumer business. Between 2011 and 2015, Huawei achieved CAGR of 18%, with Group revenue last year of CNY 395 billion (USD $60.8 billion).
Of this amount, the Huawei Consumer Business Group contributed USD $19.36 billion, up 72.9% from 2014. Huawei shipped 108 million smartphones worldwide in 2015, up 44 percent year-on-year.
“Huawei wants to build a better connected world – an intelligent world with ICT as its cornerstone, particularly cloud, software-defined networks, the Internet of Things and artificial intelligence,” said Kevin Zhang, President or Huawei Corporate Marketing. “A commitment to staying customer-centric and creating value for customers forms the foundation of Huawei’s brand. Huawei adheres to the principle of open collaboration and shared success, accelerating the development of an intelligent digital society.”
Huawei’s consumer business group has maintained steady global growth. Its flagship products, such as the P9, Mate 8 and Honor V8 smartphones, as well as the MateBook, Huawei’s first 2-in-1 laptop, have all seen significant adoption by consumers around the world. Huawei has become one of the top device brands in nearly 30 countries.
Huawei shipped 108 million smartphones in 2015, surpassing the 100 million benchmark for the first time. Strong growth in shipment forecasts through 2021 is also reinforcing the company’s position as a leading global smartphone brand.
The firm earmarks more than 10 percent of its annual sales revenue to research and development efforts, and has established 16 research centers around the world.