Chennai: Huawei has ranked 49th on the Fortune Global 500 list in 2020. This is the first time that the telecommunications giant breaks into the top 50.
The Fortune 500 list ranks companies according to their revenue and profit, focusing on the size of the companies compared with other lists. These rankings have become an important indicator that renowned companies use to measure their own strengths, size and international competitiveness, a parameter of global economy that transcends beyond borders, nationality and cultural differences.
Earlier this year, Huawei has ranked No. 6 in Boston Consulting Group’s list of the 50 Most Innovative Companies in 2020, moved up by 42 places than last year.