Huawei enters the top 50 richest companies in the world

Huawei is among the top 50 richest companies in the world. According to the latest Fortune Global 500 ranking, the Chinese manufacturer has dropped from 61st to 49th place, despite the trade sanctions imposed by the United States.

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Like every year, Fortune magazine publishes its new ranking of the 500 richest companies in the world. Participants are classified according to their turnover. On this Tuesday, August 11, 2020, Huawei integrates for the first time in its history the top 50 of the ranking. Indeed, the Chinese manufacturer went from 61st to 49th place with 124.316 billion dollars in revenue.

Despite trade sanctions imposed by the United States, the Shenzhen firm has increased its net profit of 5.6% in 2019. In 2020, Huawei signs and persists by recording a 13.1% increase in profits compared to 2019. Moreover, these good results have allowed for a time to Huawei to become world number 1 ahead of Samsung.

Indeed, the Chinese manufacturer dominated the second half of 2020, with 55.8 million smartphones sold against Samsung with 53.7 million. The Shenzhen firm took advantage of the anticipated recovery of the Chinese economy to sell its products, while the majority of other countries were still confined.

As a result, Huawei has more than ever consolidated its number 1 position in the Middle Kingdom with 70% market share. « We have demonstrated our exceptional resilience in these difficult times. Despite this period of global economic slowdown and unprecedented challenge, we continued to grow and consolidate our leadership position ”, a spokesperson for the manufacturer told AFP.

Also read: Samsung remains the undisputed smartphone leader in Europe, Huawei plunges

Apple occupies 12th place in the ranking

While Huawei has just entered the top 50, Apple lost a small place in the Fortune Global 500 ranking and now occupies 12th place with 260.174 billion dollars in revenue. The apple brand has been featured in the ranking of the 500 richest companies on the planet for more than 18 years now.

Next is the top 10 of the Fortune Global 500 ranking for 2020:

  1. Walmart: $ 523.964 billion
  2. Sinopec Group: $ 407.009 billion
  3. State Grid: $ 383.906 billion
  4. China National Petroleum: $ 379.130 billion
  5. Royal Dutch Shell : 352,106 milliards de dollars
  6. Saudi Aramco: $ 329.784 billion
  7. Volkswagen: $ 282.760 billion
  8. BP: $ 282.616 billion
  9. Amazon: $ 280.522 billion
  10. Toyota Motor: $ 275.288 billion

Also read: Trump wins – Huawei stops production of Kirin smartphones on September 15

Source : Fortune

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