Huawei ranked 49th on the Fortune Global 500 list, an annual ranking of the world’s top 500 companies by Fortune magazine, in 2020.
The telecommunications giant continued its gradual progress and entered the top 50 ranking for the first time, a statement said.
“Huawei’s net profit grew 5.6% in 2019 and 13.1% in the first half of 2020 year-over-year, despite the company’s persistent geopolitical entanglements,” the Fortune report said.
The Fortune 500 list ranks companies based on their revenue, profits and size, the statement said, adding that the list is seen as an important indicator for measuring companies and their international competitiveness.
Meanwhile, Huawei ranked 6th in the Boston Consulting Group’s 50 Most Innovative Companies list for 2020, advancing 42 notches from the previous year, which is considered the tech giant’s highest ranking. technology, the press release says.
In the global fight against Covid-19, Huawei has doubled its innovation efforts and launched the anti-Covid-19 partnership program which focuses on artificial intelligence, remote offices, smart healthcare and the ‘online education, to support the battle against the pandemic, he added.
The statement further mentioned that Huawei is investing heavily in basic research, focusing on technological breakthroughs that move the world forward.
The telecommunications company has more than 194,000 employees and operates in more than 170 countries and regions, the statement said.
Founded in 1987, Huawei is a private company wholly owned by its employees, he added.
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