Huawei and Xiaomi were included in the list of the 50 most innovative companies in 2020. Huawei was in 6th place while Xiaomi was in 24th. The list was compiled by Boston Consulting Group (BCG).
Ranked 6th, Huawei drastically increased 42 levels from the previous year’s ranking. This year’s ranking is the best ranking since Huawei for the first time to list the world’s most innovative companies in 2012.
As for compatriot rivals, this is the third time Xiaomi has entered the list after previously being ranked 35th in 2014 and 2016.
Based on a report submitted by BCG, the companies that made it into the top 6 most innovative companies in the world in 2020 were Apple, Alphabet, Amazon, Microsoft, and Huawei. Next in the list are Alibaba, IBM, Sony, and Facebook.
The report from BCG entitled “The Most Innovative Companies 2020: The Serial Innovation Imperative” recognizes Huawei and Xiaomi for their active efforts in cross-industry innovation through a series of new assessment categories to be able to illustrate the diversity and intensity of each company in crossing the line.
“In a world where every industry is transformed into a technology industry to a certain extent, the ability to produce innovations that cross borders like this becomes very important,” the report writes.