Huawei says PHL essential to overall growth

George Li, Huawei Philippines’ country head for Consumer Business Group. Huawei Philippines 

Chinese tech giant Huawei Technologies Co. Ltd. is positive about business growth in the Philippines, banking on its higher ranking on Fortune 500.

“Our boosted ranking in the Fortune 500 is the push we need for the last half of the year,”  Huawei Philippines country head for Consumer Business Group George Li said Friday.

“We continue to remain motivated in providing quality mobile phones and other technology for the Filipino market, which will continue to play an essential role in our overall business growth,” Li said.

The tech firm jumped 11 spots to 61st on the Fortune 500 list this year.

The list ranks companies according to revenue and profit, focusing on the size of companies compared with other lists.

The Fortune 500 rankings have become an important indicator that renowned companies use to measure their own strengths, size and international competitiveness, a parameter of global economy that transcends beyond borders, nationality and cultural differences.

Huawei’s ranking improved despite the ban against US firms doing business with the Chinese tech company, the world’s largest telecom network gear maker, according to Huawei Philippines. —Ted Cordero/VDS, GMA News