Brand Finance, a brand valuation and strategy consultancy, has named Huawei one of the top 10 most valuable brands for 2022. This is in its recently published Brand Finance Global 500 2022 report. The report showed a year-on-year growth of 29% in Huawei’s brand value to Ksh. 8 billion (USD 71.2 billion), allowing the company to grow more than twofold from its previous position of 21 in Brand Finance’s 500 ranking last year, to 9th this year.
Every year, Brand Finance puts 5,000 of the biggest brands to the test, and publish about 100 reports ranking brands across all sectors and countries. The world’s top 500 most valuable and strongest brands are included in the annual Brand Finance Global 500 ranking which is now in its 16th year.
As a whole, the tech sector has emerged as the most valuable industry, with a cumulative brand value of close to Ksh. 148 billion (USD 1.3 trillion) in the Brand Finance Global 500 rankings. Huawei managed to reclaim its place amongst the top 10 brands, despite its smartphone business suffering heavily from multiple US sanctions.
Brand Finance attributes Huawei’s brand growth to its commitment to innovation, by heavily investing in domestic technology companies and R&D. This is in addition to turning its focus to the electric car business while continuing to strengthen its cloud services.
The company continues to provide various innovative products to global consumers including its latest flagship smartphones. For instance, the Huawei P50 Pro brings a new generation of imaging technology that breaks physical boundaries, while the Huawei P50 Pocket opens a new chapter in the history of foldable phones.