A customer tests a Huawei smartphone in Guangzhou, Guangdong province on June 26, 2020. (Photo: Sipa)
Telecom giant Huawei became the only Chinese technology brand listed in this year's list of the world's most valuable brands, released by Forbes.
Ranked 93rd on the list, Huawei registered $8.5 billion in brand value and $188.6 billion in brand revenue.
Forbes' annual list looks at the top 100 companies from fiscal year 2019, valuing their revenue and earnings. Companies with substantial brand value gains in 2019 like Amazon, Netflix and PayPal also seem to be big winners during the pandemic, following overall upward trends for e-commerce, streaming and digital payments.
Apple once again topped the list as the most valuable brand with $241.2 billion in brand value, followed by Google ($207.5 billion), Microsoft ($162.9 billion), Amazon ($135.4 billion) and Facebook ($70.3 billion), the rankings showed.
The tech sector was the most common in the rankings with 20 companies, followed by 14 in financial services, 11 in auto and 8 in retail.
The top 100 most valuable brands in total this year were worth $2.54 trillion, up from $2.33 trillion last year. US-based companies made up more than 50 of the top 100, followed by Germany (10), France (9), Japan (6) and Switzerland (5).