Huawei has been recognized as one of the Most Innovative Companies of 2021 by the Boston Consulting Group (BCG). The annual report, titled, “Overcoming the Innovation Readiness Gap,” recognizes that innovation drives value, but only when organizations are ready to place it at the center of their strategy. After one year into the COVID-19 pandemic, which accelerated digital transformation and further highlighted the importance of innovation, the report identifies the top global innovators who were ready to scale innovation this year. Huawei is ranked eighth on the top 50 list.
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Through turbulent times, Huawei remains resilient and committed to the power of digital technology to provide fresh solutions for the increasingly complex global challenges ahead. Earlier this month at the Huawei Global Analyst Summit (HAS), the company’s Rotating Chairman shared five strategic initiatives reflective of this including:
- Huawei will optimize its portfolio to boost business resilience. As part of these efforts, Huawei will strengthen its software capabilities and invest more in businesses that are less reliant on advanced process techniques, as well as in components for intelligent vehicles.
- The company will maximize 5G value and define 5.5G with industry peers to drive the evolution of mobile communications.
- Huawei provides a seamless, user-centric, and intelligent experience across all user scenarios.
- The company will innovate to reduce energy consumption for a low-carbon world.
- Huawei will address supply continuity challenges.
Since the beginning of the company, Huawei has been investing at least 10% of its revenue each year into R&D, with a $22 billion investment in 2020 alone. Further, more than half of Huawei’s employees are dedicated to R&D.
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As one of the world’s largest patent holders with over 100,000 active patents, Huawei is focused on innovation across emerging domains, such as cloud computing, 5G, artificial intelligence and the Internet of Things. Huawei was first included on BCG’s most innovative companies list in 2012 and has returned to the list seven times since then. In 2020, Huawei saw the largest jump in its ranking compared to the other innovative companies, rising from 48th to sixth.