According to the 2017 Best Global Brands Report released by world-leading consulting firm, Interbrand, Huawei has moved up two spots in overall ranking to No.70 from its previous rank in 2016. The brand itself is valued at approximately USD $6.676 billion and has grown by 14% over the past year.
It marks another milestone, as this is the third consecutive year wherein Huawei was able to move up the rankings, following another achievement, as the first international brand to be recognized as a Best Global Brand back in 2014.
According to Interbrand, Huawei’s rapid growth is due to its strategy of accelerating global digital transformations and building a better-connected world with enhanced networks. The brand’s value continues to increase thanks to its steady performance growth and its breakthrough into the consumer electronics market.
In the first half of 2017, Huawei’s smartphone shipments rose to a staggering 70.1 million, which translates to a year-on-year increase of 20.6%. Its P and Mate Series devices have also become increasingly popular around the world, further strengthening its presence if high-end markets.
According to IDC, the volume of shipments for Huawei Smartphones made it the largest manufacturer in China and third in the world in Q2 of 2017. The brand’s global smartphone market share also grew from 9.8% to 11.3% over the same time frame last year, placing the company just within 1% of Apple.
Huawei also introduced a trio of new MateBooks which combine a stylish and portable design with powerful performance, and has received positive feedback from media and consumers alike.
The brand also climbed to number 83 on Fortune 500’s list, from its previous rank of 129, and was named as the only Chinese brand in Forbe’s most valuable global brands list in 2017.