Huawei’s rating in the world’s top 500 enterprises has risen from 49th in 2020 to 44th today. Huawei joined the list for the first time in 2010, ranking 397th, and by 2020, when Huawei jumped from 72nd to 49th place, it had broken into the top 50 for the first time.
The Fortune Global 500 yearly ranking assesses the income of the world’s biggest corporations across industries. The corporations contributed more than one-third of the global GDP and employed 69.7 million people worldwide, although their overall revenue has decreased in the last year.
Following a record high of $33.3 trillion in the 2020 edition, total revenue for the world’s largest 500 firms declined by 4.8% this year to $31.7 trillion. It was the first drop in a half-decade. The culprit was the global COVID-19 pandemic, which crippled large swaths of the global economy and caused governments to go into lockdown.
Surprisingly, this was a godsend for technology firms; a sector that not only proven its relevance to society but also managed to grow in 2020.
During the recent announcement of Huawei’s first-half results for 2021, the company’s net margin grew from 9.2% to 9.8% compared to the same period last year.
“We’ve outlined our strategic targets for the next five years,” said Eric Xu, Huawei’s Rotating Chairman. We are sure that our carrier and enterprise operations will grow gradually in the future”.
The company has benefited from its varied business, which operates in all regions of the world, in many markets ranging from telecoms to IT and energy, as well as from the increased digitization of organizations across many different industries.
In addition to its vast patent portfolio, Huawei also saw increased revenues from patents and licensing fees; earlier this year, Jason Ding, Huawei’s head of intellectual property, projected $1.2 billion to $1.3 billion in revenue from its patents and licensing.
Huawei has one of the world’s largest patent portfolios and spends more than 15% of its sales income in R&D last year on technologies such as 5G and Cloud.