Huawei named the most powerful Chinese company
Huzhun Magazine has published a ranking of the strongest consumer electronics companies in China this year. As it turned out, the top spot on this list went to tech giant Huawei.
So, according to the information provided by the publication, Huawei has a capitalization of 1.1 trillion yuan, which translates into dollars is 163.8 billion. вЂќ Compared to last year, the figure decreased by 100 billion yuan ($14.89 billion). This was due to the US sanctions, as a result of which the company faced considerable difficulties, вЂќ the publication commented.
At the same time, the popular Chinese company Xiaomi took second place with an indicator of 434 billion yuan. The third and fourth places went to VIVO and OPPO with 175 billion and 170 billion yuan, respectively.