Huawei remains steadfast in its commitment to fostering innovation and delivering value to global consumers. In the recent BrandZ Top 100 Most Valuable Brands study, conducted by WPP and Kantar, Huawei has risen two spots to secure the 45th position, boasting a brand value of US$29.4 billion, indicating a notable nine percent year-on-year increase. This achievement cements Huawei's consistent presence among the top 50 most valuable global brands for the past five years, a testament to its long-term vision of creating a fully connected and intelligent world.The report draws attention to the collective brand value of the top global brands, which experienced a commendable 5.9 percent growth compared to the previous year. Notably, the technology sector has been the primary driving force for 15 consecutive years, contributing 37 percent to the total brand value of the top 100 brands. Chinese brands are also making remarkable strides, with 17 companies securing positions in the top 100, five of which have been recognized as the 'Top 20 Risers' for their substantial increase in brand value.
Over the past year, Huawei has been dedicated to diversifying and expanding its product offerings in both domestic and international markets. In a Virtual Launch event held in February, Huawei unveiled an impressive array of new products, including the cutting-edge 5G foldable smartphone HUAWEI Mate Xs, the innovative HUAWEI MatePad Pro 5G tablet, and AppGallery, Huawei's very own app distribution platform. The event further showcased Huawei's All-Scenario Seamless AI Life Strategy, reinforcing its commitment to invest in a comprehensive range of consumer electronics technologies, encompassing 5G and AI. Building on this momentum, the subsequent release of the HUAWEI P40 Series set new benchmarks in mobile imaging technology, empowering consumers with a superior Super Definition photography experience through state-of-the-art camera smartphones.
The BrandZ study aligns with the findings from IDC's Worldwide Mobile Device Trackers, which consistently positioned Huawei as the world's second-largest smartphone manufacturer, commanding a notable 17.8 percent market share. Additionally, Huawei witnessed substantial growth in the wearables sector, with an impressive 62.2 percent year-on-year increase in shipments. Furthermore, Huawei secured a 12 percent share of the global tablet market, solidifying its standing as the third-largest tablet vendor worldwide. Independent analyst firm Canalys recognized Huawei as one of the top 5 manufacturers of true wireless audio products. Moreover, Huawei's PC business achieved a remarkable year-on-year sales growth of 120 percent in the first quarter.
In the recent Most Innovative Companies report published by renowned business consultancy firm Boston Consulting Group (BCG), Huawei secured an impressive sixth spot, climbing an astonishing 42 ranks compared to the previous year. BCG's evaluation is based on a survey conducted between August 2019 and October 2019, which assesses companies' performance across various dimensions, including global mindshare, industry peer view, industry disruption, and value creation. Among the top 50 listed companies, Huawei demonstrated the most significant upward leap, emerging as the highest-ranking Chinese company.
Furthermore, Huawei has actively collaborated with developers and partners to cultivate an all-encompassing software ecosystem, which is vital for its envisioned smart future. The company is wholeheartedly committed to fully opening up its chip-device-cloud capabilities, thereby accelerating app experience innovation. To support this endeavor, Huawei has allocated an impressive budget of US$1 billion for the Shining-Star Programme, an initiative aimed at providing developers with a range of services to facilitate the successful launch of their ideas into the market.