Huawei ranks 6 among world’s most innovative companies 2020

Kathmandu : Boston Consulting Group published a list on June 22, 2020 on ‘The 50 Most Innovative Companies for 2020’.

Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963.

The survey for BCG’s Most Innovative Companies began in 2005, and this year’s report is BCG’s 14th edition.

According to the report by Boston Consulting Group, Apple, Alphabet, Amazon, Microsoft, Samsung and Huawei occupy the top 6 spots in the new ranking, followed by Alibaba, IBM, Sony and Facebook.

Global leading ICT infrastructure provider Huawei has ranked No. 6 in BCG’s recent released list, moved up by 42 places. This is the highest ranking for the tech giant since it first made the list in 2012.

As the world’s largest supplier of telecommunications equipment, Huawei has continuously invested over 10% of its annual revenue back into R&D. In 2019, the company’s R&D expenditure totaled CNY131,659 million, accounting for 15.3% of its total revenue.

In terms of 5G, Huawei invested 4 billion USD in the past decade, which makes it the global leader in this next-generation technology. To further commercial adoption and promote new innovation in 5G applications, the company has established 5G joint innovation centers together with carriers worldwide.

“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—may be even more relevant today as innovation leaders need to adapt to rapidly shifting patterns of supply, demand, consumer behavior, and ways of doing business,” wrote the author of the BCG report.