Global leading ICT infrastructure provider Huawei has ranked 6th in Boston Consulting Group's recently released list of the 50 Most Innovative Companies in 2020. According to BCG's report, Apple, Alphabet, Amazon, Microsoft, and Huawei occupy the top 6 spots in the new ranking, followed by Alibaba, IBM, Sony and Facebook.
The ranking is based on a survey of 2,500 global innovation executives and assesses companies' performance on four dimensions of global 'mindshare', industry disruption, industry peer view and value creation. This year, BCG also added a new scoring dimension that captures each company's variety and intensity of boundary-breaking, by assessing its ability to breach established industry entry barriers and play in an array of markets outside its own.
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 totalled 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 centres 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—maybe even more relevant today as innovation leaders need to adapt to rapidly shifting patterns of supply, demand, consumer behaviour, and ways of doing business," wrote the author of the BCG report.