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Huawei is taking on the mobile giants by investing in partnerships, not advertising - Marketing Week
Chinese technology brand Huawei has its sights set on Apple and Samsung, as it looks to increase market share by expanding into global markets with its latest high-end smartphone. Following the launch of its flagship devices the P10 and P10 plus at Mobile World Congress in March, Huawei’s CMO Andrew Garrihy is on a mission to push growth in Europe. The company does not believe in the big brand advertising of its competitors, though, claiming it ends up being a cost to the consumer. Instead, Huawei focuses investment on research and development (R&D) to bring valuable innovation to its target market. Although relatively unknown in the UK market, Huawei is the third biggest smartphone brand globally with an 8.3% market share. It increased brand value by 9% in 2017, according to the latest BrandZ ranking by Kantar Millward Brown, making it the 49th most valuable brand in the world. Group annual revenue for 2016 increased 32% year on year to CNY521.6bn (£59.1bn), and net profits rose 0.4% to CNY37.1bn (£4.2bn). While this is much lower than the 32% increase reported in its previous financial year, analysts suggest the drop is down to an increased focus in R&D, with records showing an investment of CNY76.4bn (£8.6bn) in 2016.
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