Companies like Apple, Alphabet, Amazon and others are the regulars in the top ten list of the world's most innovative companies, but for Huawei, it is the first time. This ICT infrastructure provider has taken a leap from 42nd place in the list to the sixth position. This is the highest-ranking for the tech giant since it first made it to the list in 2012.
According to Boston Consulting Group, Apple, Alphabet, Amazon, Microsoft and Huawei occupy the top six spots in the new ranking, followed by Alibaba, IBM, Sony and Facebook.
In terms of 5G, Huawei invested USD 4 billion 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. Huawei has continuously invested over 10 per cent of its annual revenue back into R&D. In 2019, the company’s R&D expenditure accounted for 15.3 per cent of its total revenue.
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.