Forbes has released a report of its Most Valuable Brands of 2018. There are various powerful brands on the list such as Apple, Google, and Microsoft at the top 3, but only one Chinese brand was able to make it on the list and that is Huawei.
Huawei is on the list for the second year now. The company is the only brand in the list of 100 companies all over the world. Huawei was ranked at 79th with a brand value of US$8.4 billion while last year it was ranked at 88th with a whopping value of $7.3 billion. Countries such as the U.S., Germany, Japan, and France all boast multiple brands on the list while Huawei is China’s only brand.
The Chinese tech giant entered the list for the first time in 2017 and after a year of rapid development, Huawei’s brand value increased by 15% year-on-year to USD 8.4 billion making it go from 88th to 79th in Forbes ranking list.
In a blog post, Huawei said:
“2017 saw Huawei achieve a rapid global development driven by the full range of its products featuring the Mate, P, and Nova series. The launch of the Huawei P10 and Huawei Mate10 series helped to raise its premium credentials and increased HUAWEI’s influence in the high-end market. Huawei officially launched P20 series in Paris in March 2018. With its unique and innovative Leica Triple Camera, twilight body design and AI features, Huawei P20 series has been a global sales sensation.”
Tech giants continue to dominate the list by taking the top five ranks and accounting for up to 20% of the top 100. Looking at the list and states, we will see whether Huawei pushes further up the rankings next year or any other Chinese tech firms such as Xiaomi or Oppo manage to break into the top-100 barrier.
Even though the China-based smartphone manufacturer is unable to enter US market, it still manages to be the 3rd largest phone manufacturer in the world and the company has been also been working on an independent operating system since 2012, so if it has trouble with Google’s Android, the company will have an option to fall back on.