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How this Chinese smartphone company ranked 83rd on Fortune Global 500 list

By Nestor Domingo Jr - on 9 Aug 2017, 1:59pm

How this Chinese smartphone company ranked 83rd on Fortune Global 500 list

Huawei is one of the fastest-rising brands in the world of the smartphones. They ranked third and simply trailing behind the tug-o-war of other two biggest names in the industry. That said, the question is poised to Huawei Consumer Business Group CEO Richard Yu: What is the recipe for the success of Huawei?

“Quality is our lifeblood,” said Yu during the company’s Internal Quality Conference. “We continue our commitment to the idea that serving consumers would be the guiding principle for the new Huawei Consumer Business Group, and vowed that every product we make should be guided by the needs and demands of our customers. The answer is that quality triumphs over everything because poor quality leads to bad reputation, which in turn harms the company. So quality is our lifeblood.”

Recognized for having the success of being the third largest smartphone brand in the world today, Huawei is set to go even higher with their end-to-end customer-centric innovations in their work, as well as the aim of Consumer Business Group to expand its shares in more key markets. And according to the tech giant executive, quality control is their main component to achieve them all.

“Quality control, as I see it, should be implemented from end to end. Poor quality at any link in the chain: from demand minding, strategic planning to production and marketing, could result in defects in the final products we provide for end users,” added Yu.

huawei, richard yu, fortune 500, idc, trendforce

The tech giant managed to break through the top 100 (now ranked 83) of the coveted 2017 Fortune 500 list after being placed 129th the previous year with reported revenue of USD 78.51 billion. This massive leap is due to them being placed third in terms of market share in the global smartphone market during the first quarter of 2017 and first in China according to the most trusted market research statistic firms IDC, SA, and Trendforce.

Despite the successes they are attaining over the previous years, Huawei is poised to push everyone in to work harder to drive growth in the industry wherein stiff competition and advancements in innovation. That said, Yu is calling for every member to be more creative, visionary, and steadfast.

“I hope all of us can work together to overcome challenges and bring innovations. Quality is the cornerstone of our development and success. Our most important task is to ensure product quality and experience in order to maintain product competitiveness and global leadership. We want our products to bring value to our consumers and our brand image will follow suit,” concluded Yu.