RIYADH – Continuing a multi-year track record of acceleration, Huawei has ranked 61st on the Fortune 500 list. This year’s ranking represents an 11-point jump from last year and an impressive 68 point leap from 2017.

The Fortune 500 list ranks companies according to their revenue and profit, focusing on the size of the companies compared with other lists. The Fortune 500 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.

Huawei’s elevated ranking is well-earned, having demonstrated a 22% increase in revenue and a 27.5% change in profits year-over-year. And yet, Huawei’s prowess goes far beyond profitability.

“Our continued elevation in the Fortune 500 list rankings is yet another notable marker of success for the company in 2019,” said Richard Yu, CEO of Huawei Consumer Business Group. “Our dedication to delivering the latest technologies to our customers, with a sharp focus on innovation through commitment to investing in R&D has enabled us to continue to enjoy record success.”

Earlier this year, Huawei ranked 47th on BrandZ’s annual Top 100 Most Valuable Global Brands, in large part due to ground-breaking product innovations such as the Huawei P30 smartphone’s advanced camera system, the unprecedented technological innovations baked into the Huawei Mate X handset as well as the highlight anticipated Mate 20 X (5G). — SG