Brand value is the ultimate currency as a valuable brand can often stimulate consumer demand and have a strong pricing power. Forbes’s Top 100 list values brands on three years of earnings multiplied by the the average price-to-earnings in different industries to arrive at the final brand value. With this information at hand, Forbes has announced its annual list ranking of the “World’s Most Valuable Brands 2017” after evaluating more than 200 global brands to determine the final list of 100 brands. With Tech brands dominating the top 100 with 18 making the cut, Huawei ranked 88th and thus became the only Chinese company on the list.
Huawei’s brand value of 7.3 billion USD is thanks to the strong growth in its overseas businesses. Its consumer business now ranks third which taking 9.3%smartphone global market share. The latest HUAWEI P10 series flagship smartphone, which is now available in over 30 markets since its launch on February 26, 2017, is gaining tremendous popularity among consumers all over the world owe to the outstanding photography experience it provides. The latest smartphones that were launched from Huawei, the P10 and P10 Plus is presently well received amongst smartphone enthusiasts in Sri Lanka. The Huawei P10 comes with a 2 year warranty as well as a 3 month screen replacement warranty. Both models have been designed to showcase not only striking colors and a sleek finish but also accommodate Leica’s front and back cameras with cutting-edge portrait features “making every shot a cover shot”.
Apart from Forbes, Huawei also listed on Interbrand’s list of 100 Best Global Brands 2016, ranking 72nd. Furthermore, Huawei ranked 50th on BrandZ’s Top 100 Most Valuable Global Brands list. “Thanks to the growing global recognition of Huawei products and the Huawei brand. In 2017, Huawei CBG will continue to put consumer needs first and will enhance develop a consumer-oriented system capabilities focused on channels, retail, brand, marketing and services.” said Richard Yu, CEO of Huawei Consumer Business Group. “Moving forward, Huawei Consumer Business Group will continue to develop Artificial Intelligence (AI) products and innovations. These will provide users with excellent experiences and cement Huawei as a leader in emerging technologies while establishing the company as a cultural technology brand loved by consumers the world over.”
Huawei has been well-received in Sri Lanka ever since the company launched the smartphone business into the local market in 2012. Having had achieved a market share of 30% by the end of last year and now Huawei anticipates to achieve a 50% market share by the end of 2017. Sri Lanka had also been recognized as the country that showed high growth in Huawei sales in the region by the end of 2016. Recently Huawei celebrated its 5th year of successful partnership with its exclusive National Distributor Singer Sri Lanka. Together with Singer, Huawei aims to be the number on smartphone brand by the end of 2017.