The new entrant is the first mainland Chinese brand to be recognized in the highly influential report.
Huawei, the leading global information and communications technology (ICT) solutions provider, broke through the brand glass ceiling as it joins the year’s top 100 brands in Interbrand’s 2014 Annual Best Global Brands Report.
Interbrand is the world’s leading brand consultancy, with a network of 33 offices in 27 countries. The consultancy has been publishing the highly influential, annual Best Global Brands for 15 years now, with the belief that brands have the power to change the world.
Huawei is a new entrant and the first Chinese brand to ever appear on the Best Global Brands ranking. It reported a net profit increase of 34.4 percent to CNY ¥21 billion (USD $3.38 billion) in 2013, up from CNY ¥15.6 billion in 2012. This leap follows a worldwide trend where companies, even entire industries, shift from legacy storage and equipment to more agile products, such as cloud services, 3G routing, and security solutions, among others. According to Interbrand’s statement, Huawei is poised to dominate key areas of the IT market – from mobile phones to carrier-grade networks.
“Huawei’s rapid growth and long-term investments in its brand helped it earn a place among the world’s most valuable brands,” said Jez Frampton, Interbrand’s Global CEO. “Despite its low brand awareness in the U.S., Huawei has gradually expanded its reach around the world. It continues to demonstrate its technological prowess in both its consumer products as well as in its enterprise solutions—and it remains well positioned to meet the needs of customers in both emerging and developed markets.”
“Huawei is honored to receive this acknowledgement from Interbrand,” said Shao Yang, Chief Marketing Officer of Huawei Consumer Business Group. “This recognition is evidence of Huawei’s relentless commitment to ‘Make It Possible’ for people everywhere to enjoy our premium quality products. We are ranked number globally in terms of smartphone shipments, and our brand recognition is growing steadily in key regions such as China and Western Europe. We also continue to focus on building the Huawei brand globally.”
At no. 94, Huawei is one of five new entrants in this year’s top 100 Best Global Brands. The four other newcomers are: DHL (no. 81), Land Rover (no. 91), FedEx (no. 92), and Hugo Boss (no. 97).