Huawei has ranked 49th on the Fortune Global 500 list in 2020. This is the first time that the telecommunications giant breaks into the top 50, continuing a multi-year track record of acceleration.
“Huawei’s net profit rose 5.6% in 2019, and revenue grew a further 13.1% year-on-year in the first half of 2020, despite the company’s persistent geopolitical entanglements,” said the Fortune report.
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. […]