Huawei ranked 83rd of latest Fortune 500 list

New Delhi, July 21 :  Riding on its $78.51 billion revenue, Chinese smartphone manufacturer Huawei has been ranked 83rd in the 2017 Fortune 500 list released by Fortune business magazine, the company announced on Friday.
"Huawei's brand value has risen considerably owing to its consumer-centric business ideology," the company said.
Huawei saw its stock rise from being ranked 352nd in 2011 to 83rd in 2017.
According to market research statistics from agencies such as IDC, among others, Huawei was ranked third in terms of market share in the global smartphone market in the first quarter of 2017.
Recently, Huawei launched its flagship device Honor 8 Pro in India that has garnered positive reviews from the media.