Huawei has been named as one of the top 10 most valuable brands for the first time ever in the reputed Brand Finance Global 500 2020 report. The report estimates that Huaweis brand value is now worth over USD$65 billion, which is up 4.5% year on year.

According to Brand Finance, the international transition to 5G connectivity starting in 2019 noticed fierce competition among technology companies. In this environment, Huawei successfully elevated into markets traditionally covered by Western providers, and regardless of some controversy in the US, the company made clear headway. Overall, the report notes that international customers proceed to hold the tech sector in high regard.

The recognition from Brand Finance follows Huawei overtaking Apple to emerge as the worlds second bestselling smartphone brand in 2019, in accordance to reports from Strategy Analytics, Counterpoint Research, and Canalys. Its smartphone business shipped 240 million units globally during 2019.

Huawei also remains the worlds leading maker of telecom networking tools in addition to offering end-to-end solutions in computing and machine technologies. The company is an energetic member of more than 400 standards organizations, enterprise alliances, and open supply communities, and previous year ranked fifth on the 2019 EU Industrial R&D Investment Scoreboard as one of the largest investors in research and improvement worldwide.

This focus on innovation enabled Huawei to expand its solutions portfolio throughout enterprise and consumer segments in 2019. Dominance in the 5G space was bolstered by new AI capabilities and chipsets. Huawei brought many of these capabilities to the Middle East as a partner of desire to telecom operators, governments, and enterprises. Globally, more than 700 cities and 228 Fortune Global 500 companies have chosen Huawei as their digital transformation partner.