Huawei has been listed 83rd on Forbes 500 in Forbes Magazine. Founded in 1987, by Ren Zhengfei, in a span of thirty years Huawei has become a household name when it comes to smartphones. It is now ranked the 3rd most popular smart phone company in the world. How a local private company went from zero to hundred in such a short time is commendable. The company now also operates a sub-brand with the name of Honor.
THE HUAWEI ORIGIN
Ren Zhengfei, the founder and current CEO of Huawei established the company in China as a consulting firm which aimed to provide operation services in and outside of the country. It is mainly a telecommunication and networking company.
The company started of with manufacturing phone switches and supplying them to other phone companies. The first break through for Huawei came in 1997, which was the year it signed its first international contract with a company in Hong Kong to supply fixed line network products. The quality of Huawei’s products was so great that by 2004, its overseas sale was far more than its domestic sales.
Huawei is more popular in the markets of China, Pakistan, India, Indonesia, Ireland, UK, Sweden and Russia etc. It is slowly tapping into the US market as well where for now Apple and Samsung are dominant phone brands.
WHAT IS MAKING HUAWEI GREAT?
Huawei’s founder own only 1.4% shares of the entire company. The company has around 170,000 employees and is operational in more than 150 countries around the world. The rest of its shares are owned by the employees which categorises it as an “all-employee” owned company.
A huge factor which adds to the success and quality of Huawei is the fact that the firm pays a lot of attention to development and research. It has established more than 21 research and development centres around the world and has 46% of its employees focused on developing that area.
The company actively participates in MWC each year where it launches its flagship phone and other mobile related conferences around the world. Huawei also manufactures USB modems, wireless gateways and embedded modules etc.