Huawei has come 9th in the latest Brand Finance Global 500 2022 report. The company has moved from its previous position of 21 last year with the report showing 29% year on year growth in Huawei’s brand value.
Brand Finance is a leading brand valuation and strategy consultancy. Every year it puts 5,000 of the biggest brands to the test, and publishes reports ranking brands across all sectors and countries. This is the 16 year of the annual Global 500 ranking.
These are the top 10 most valuable brands of 2022:
- Apple – $355.1 Billion
- Amazon – $350.3 Billion
- Google – $263.4 Billion
- Microsoft – $184.2 Billion
- Walmart – $111.9 Billion
- Samsung – $107.3 Billion
- Facebook – $101.2 Billion
- ICBC – $75.1 Billion
- Huawei – $71.2 Billion
- Verizon – $69.6 Billion
As you can see, of the top 10 valuable brands, 7 are US companies, 2 are Chinese companies and 1 is from South Korea. The top 5 are all American companies.
Also, important to note is that 8 of the top 10 are tech companies. Only Walmart – a chain store – and ICBC – a bank – stand out. The tech sector is once again revealed to be the most valuable industry, with a cumulative brand value of close to US$1.3 trillion.
It is interesting to see Huawei come back to the top 10 brands despite its smartphone business suffering heavily from the US Ban.
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.