Huawei has climbed to 44th place in the world’s top 500 companies this year, up from 49th place in 2020. Huawei, a privately held employee-owned company, initially appeared on the list in 2010, ranked 397th, and by 2020, had jumped from 72nd to 49th position, breaking into the top 50 for the first time.
The Fortune Global 500 yearly ranking is based on the income of the world’s most successful companies in a variety of areas. The firms have combined revenue of more than one-third of global GDP and employ 69.7 million people globally, although their overall revenue has decreased in the last year.
Total revenue for the world’s largest 500 businesses decreased 4.8 percent to $31.7 trillion this year, after reaching a record high of $33.3 trillion in the 2020 edition. It was the first drop in more than a half-decade. The reason was the worldwide COVID, which crippled large swaths of the global economy as governments went into lockdown, but was a windfall for IT firms; a sector that not only proved …
Huawei’s net margin grew from 9.2 percent to 9.8 percent in the first half of 2021, compared to the same time last year, according to the company’s recent report. “We’ve defined our strategic targets for the next five years,” said Eric Xu, Huawei’s Rotating Chairman. Our carrier and enterprise businesses will continue to develop gradually, we are confident.”