This is the first time the telecommunications giant has entered the top 50, continuing a multi-year acceleration track record, a statement said on Saturday.
“Huawei’s net profit grew 5.6% in 2019, and revenue grew 13.1% year-on-year in the first half of 2020, despite the company’s persistent geopolitical entanglements,” the Fortune report states.
Fortune 500 list ranks businesses by revenue and profit, focusing on size
companies versus other listings.
The Fortune 500 has become an important indicator that renowned companies use to measure their own strengths, size and international competitiveness, a metric of the global economy that transcends borders, nationality and cultural differences.
Earlier this year, Huawei ranked No.6 in the Boston Consulting Group’s 50 Most Innovative Companies in 2020 list, rising 42 places from last year, which was the highest ranking of the technology since joining the 2012 list.
In the global fight against COVID-19, Huawei has doubled its innovation efforts and launched the anti-COVID-19 partnership program which focuses on AI, remote offices, smart healthcare and the online education, to support the battle against the pandemic.
“The complex external environment makes open collaboration and trust in global value chains more important than ever. Huawei pledged to continue fulfilling its obligations to its customers and suppliers, and to survive, move forward and contribute to the global digital economy and technological development, ”Huawei said during the announcement. of its first-half 2020 business results in July, reports UNB.