Huawei, a leading global provider of (ICT) infrastructure and smart devices has ranked 6th among the world’s most innovative companies. Huawei is a company that perpetually believes in collaboration with ecosystem partners, and creating lasting value for our customers, working to empower people, enrich home life, and inspire innovation in organizations of all shapes and sizes.
After investing heavily in fundamental research, concentrating, and on technological breakthroughs. They have 194,000 employees and operate in more than 170 countries and regions. Also, they serve more than three billion people around the world.
Recently, Boston Consulting Group published a list on June 22, 2020, on ‘The 50 Most Innovative Companies for 2020’. This ranking was completely based on a survey of 2,500 global innovation executives and assesses companies. It was based bordering the performance on four dimensions of Global “Mindshare”, Industry Disruption, Industry Peer View, and Value Creation.
How it all happened?
It all started with Boston Consulting Group which was the pioneer in business strategy when it was founded in 1963 started conducting surveys. The survey for BCG’s Most Innovative Companies began in 2005, and this year’s report is BCG’s 14th edition.
So, the evaluation this year which has Huawei, as number 6 among the world’s most innovative companies, on BCG also added a new scoring dimension. This dimension captures each company’s variety and intensity of boundary-breaking. It does that by assessing its capacity to breach stabilized industry entry barriers and plays in an arrangement of markets outside its own.
Top ten most innovative companies in the World.
According to this analysis by Boston Consulting Group, the companies rank the following ways.
So these are the top 10 companies that fall under this list. We can clearly see that Huawei has ranked No. 6 in BCG’s recently released list. This is a huge accomplishment as it moved up by 42 places. This makes the highest-ranking for the tech giant since it first made the list in 2012.
How Huawei made it?
Huawei which is also the world’s largest supplier of telecommunications equipment has allegedly invested over 10% of its annual revenue back into R&D. Moreover, in 2019, the company’s R&D expenditure totaled to CNY131,659 million, accounting for 15.3% of its total revenue which is huge.
Not just that, also in terms of 5G, Huawei invested 4 billion USD in the past decade. This makes Huawei the global leader in this next-generation technology.
Also, the company has established 5G joint innovation centres together with carriers worldwide in order to have further the commercial adoption and promote new innovation in 5G applications.
According to its annual report, Huawei itself further developed an innovation 1.0 model to Innovation 2.0. Which makes its goal and aim clear-cut as it has certainly demonstrated its basic theory of advancement.
Moreover, to fight against COVID-19, Huawei has also made an effort. It doubled down its innovation efforts and launched the Anti-COVID-19 Partner Program. This program focuses on AI, remote office, smart healthcare, and online education. This is also a very generous and environment-friendly innovation to support the fight against the pandemic. How it practically works is with the AI-assisted diagnosis, for example, could output CT quantification results in seconds and help frontline medical staff detect COVID-19 cases.
To sum up, Huawei has made some tremendous effort and marked itself as the top 6 among the worlds most innovative companies. If the trend goes on to continue with some further innovation and more eco-friendly establishments then it is certain that Huawei might just top the charts one day.
Also, some exclusive words from the Author of the BCG report, “When we began the research for this 14th edition of BCG’s Most Innovative Companies report, COVID-19 had not yet emerged. As we explored the data and interacted with clients, however, it became clear that this year’s core findings—about the advantages of scale and the imperative for serial innovation—maybe even more relevant today as innovation leaders need to adapt to rapidly shifting patterns of supply, demand, consumer behavior, and ways of doing business,”