Huawei ascends Fortune Global 500 as COVID-19 Lockdowns boost 5G and IoT adoption

The Tech Giant’s, Huawei, ranking in the global top 500 enterprises has moved up to 44th this year from previously being 49th last year. The privately employee-owned firm entered the list for the first time back in 2010 with a ranking of 397th, and by 2020, it leapt from 72nd to 49th place making their way into the top 50 for the first time.

“The Fortune Global 500 annual ranking measures the business revenue of the top businesses across industries” sources explain. “The companies generated revenues totalling more than one-third of the world’s GDP and employ 69.7 million people worldwide, however, their total revenue shrank over the past year.”

Clearly Britain removing Huawei tech from their Telecom 5G rollout as noted in Huawei ad blitz to Britain – Fallout will affect Recession Recovery in 2021 https://geezam.com/huawei-ad-blitz-to-britain has not hurt their global fortunes too much.

Huawei rises on Fortune Global 500 List – COVID-19 disrupted global economy

They go further to explain that after a record high of $33.3 trillion was reached in the 2020 edition, total revenue for the world’s biggest 500 companies fell 4.8% to $31.7 trillion this year.

This was said to be the first decline in half a decade. The culprit was the global COVID-19 pandemic that disrupted the global economy as countries went into lockdown, but which benefited technology companies as predicted in 2021 is the Year of Recovery – COVID-19 was bad for Huawei’s Business Partners.

This is a sector that not only proved its importance to society but also managed to continue to grow during 2020. It may even result in the gradual recovery of the global economy as the world shift gears to Work-at-home and No-Movement days to stem the spread of COVID-19 as noted in Huawei’s online 5G+, Better World Summit – 5G and AI, IoT and COVID-19 Recovery.

During the recent announcement of Huawei’s first-half results for 2021, during which Huawei’s net margin increased from 9.2% to 9.8% compared to the same period last year. Eric Xu, Huawei’s Rotating Chairman stated: “We’ve set our strategic goals for the next five years. We are confident that our carrier and enterprise businesses will continue to grow steadily.”

Huawei’s Intellectual Property – 5G and IoT in the World’s Largest Patent portfolio

The company has profited from its diverse business, operating in all regions in the world along with operating in different markets from telecommunications to IT and energy, and from the increase in businesses digitizing across many different industries.

Huawei also benefitted from its large patent portfolio with the head of Huawei’s intellectual property department, Jason Ding, saying earlier this year that Huawei expects to make around $1.2 billion to $1.3 billion in patent and licensing fees between the years 2019 and 2021 as predicted in GreyB and Amplified First-Phase Study reveals US, Britain owe Huawei for 5G Standards.

“Huawei has one of the largest patent portfolios in the world and invested over 15% of its sales revenue into R&D last year in technologies such as 5G and Cloud” sources say.

Clearly, Huawei rising fortunes on the Fortune Global 500 are partly thanks to COVID-19 Lockdowns and No-movement days boosting the need for 5G and IoT adoption for Work-at-home.

The following two tabs change content below.
Lindsworth is a Radio Frequency and Generator Maintenance Technician who has a knack for writing about his work, which is in the Telecoms Engineering Field. An inspired writer on themes as diverse as Autonomous Ants simulations, Power from Lightning and the current Tablet Wars.