• Friday, Sep 25, 2020
  • Last Update : 08:02 pm

Huawei ranks 49th in Fortune Global 500 ranking

  • Published at 05:07 pm August 15th, 2020

The telecommunication giant continues gradual progress and broke into the top 50 of the ranking for the first time

Huawei has ranked 49th in the Fortune Global 500 list, an annual ranking of the top 500 companies worldwide by the Fortune magazine, in 2020.

The telecommunication giant continued gradual progress and broke into the top 50 of the ranking for the first time, said a press release.

“Huawei’s net profit rose 5.6% in 2019 and it grew a 13.1% in the first half of 2020 year-on-year, despite the company’s persistent geopolitical entanglements,” said the Fortune report.

The Fortune 500 list ranks companies based on their revenues, profit, and sizes, the release said, adding that the list was considered as an important indicator to measure the corporations and their international competitiveness. 

Meanwhile, Huawei ranked 6th in Boston Consulting Group’s list of the 50 Most Innovative Companies in 2020, moved up by 42 notches than the previous year, which is considered the highest-ranking for the tech giant, the press release said.

In the global fight against Covid-19, Huawei doubled down its innovation efforts and launched the anti-Covid-19 partner program that focuses on artificial intelligence, remote office, smart healthcare, and online education, to support the battle against the pandemic, it added.

The release further mentioned that Huawei invests heavily in basic research, concentrating on technological breakthroughs that drive the world forward.  

The telecommunication company has more than 194,000 employees and operates in more than 170 countries and regions, the release said.

Founded in 1987, Huawei is a private company fully owned by its employees, it added.

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