Brand Finance, a brand valuation and strategy consultancy, named Huawei one of the top 10 most valuable brands for 2022 in its recently published Brand Finance Global 500 2022 report.
The report showed a staggering year-on-year growth of 29 percent in Huawei’s brand value to $71.2 billion, allowing the company to rise more than twofold from its previous position of 21 in Brand Finance’s 500 ranking last year, to 9th this year, said a release from Huawei.
Every year, Brand Finance puts 5,000 of the biggest brands to the test, and publish nearly 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 – now in its 16th year.
As a whole, the tech sector is once again revealed to be the most valuable industry, with a cumulative brand value of close to $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, as well as turning its focus to the electric car business while continuing to strengthen its cloud services.
