Huawei, Xiaomi top list of China’s most valuable consumer electronics companies, says Hurun report
- Among the top 10 most valuable companies, five are smartphone manufacturers, which together shipped 620 million devices last year
- Phone makers Vivo and Oppo came in third and fourth with a valuation of 175 billion yuan and 170 billion yuan respectively
Five of China’s 10 most valuable consumer electronics companies are smartphone makers, with Huawei Technologies taking the top spot despite US restrictions that have cut the supply of key components to the Chinese company.
Huawei, China’s leading telecom supplier and mobile phone brand, is China’s most valuable consumer electronics company with a valuation of 1.1 trillion yuan (USD$164.3 billion), according to the Hurun China Top 10 Most Valuable Consumer Electronics Companies 2020 report.
Smartphone brand Xiaomi was in the No 2 spot with a valuation of 434 billion yuan despite India’s recent ban on its several apps in the country, according to the rankings released Monday by Shanghai-based Hurun.
Phone makers Vivo and Oppo came in third and fourth with a valuation of 175 billion yuan and 170 billion yuan respectively. Chinese drone maker DJI claimed fifth spot with a valuation of 100 billion yuan followed by Shenzhen-based phone manufacturer Transsion, the largest smartphone manufacturer by sales in Africa, with a valuation of 77 billion yuan.
Among the top 10 most valuable companies, five are smartphone manufacturers, which together shipped 620 million devices last year, accounting for 40 per cent of the global market share, according to Hurun.
The companies rounding out the remainder of the top 10 most valuable list are PC maker Lenovo Group (54 billion yuan), intelligent control manufacturer Intretech (27 billion yuan), e-cigarette brand RELX Technology (15 billion yuan), and audio manufacturer Edifier Technology (14 billion yuan).