Hurun China's Top 10 Consumer Electronics Companies 2020 Latest Release

Recently, Hurun Report released the "2020 Hurun China Top 10 Consumer Electronics Companies", in which Huawei became China's most valuable consumer electronics company with a value of 1.1 trillion yuan, and Xiaomi followed closely behind.

Image source: Hurun Research Institute

The list shows that Xiaomi ranks second with a value of 434 billion yuan; VIVO's value exceeds OPPO for the first time, ranking third with 175 billion yuan; OPPO ranks fourth with 170 billion yuan; 5 of the top ten companies make mobile phones, including the top four and sixth-ranked Transsion; the total smartphone shipments of the five companies last year were 620 million units, accounting for 40% of the world.

It is reported that the report points out that the market value of listed companies is calculated based on the closing price on September 30, 2020, and the valuation of unlisted companies is based on the publicly disclosed valuation of the latest round of financing, or the valuation of similar listed companies. The above report only includes private enterprises in mainland China. At the same time, the list does not include traditional home appliance companies such as Gree, Midea, and Haier, as well as smart home appliance companies represented by sweeping robots such as Ecovacs. Goertek and Smoore, whose main business is B2B, are not included in the statistics.

In addition, Xiaomi is the only listed company in the top five, while Apple, the world's most valuable consumer electronics company, is worth 13.5 trillion yuan.

Hurun also said that Huawei is facing considerable difficulties due to the US sanctions, with its value falling from 1.2 trillion last year to 1.1 trillion. Huawei has successfully developed its consumer electronics business from its information and communications infrastructure business. Last year, Huawei's consumer business revenue increased by more than 30% year-on-year, accounting for nearly 60% of the group's total revenue. Huawei's consumer business is mainly based on mobile phones. Last year, Huawei (including Honor) shipped more than 240 million smartphones, with a market share of 18%, ranking second in the world; 5G mobile phone market share ranked first in the world.

Finally, the report also shows that China's leading consumer electronics brands are the most recognized Chinese brands overseas, especially Huawei, Xiaomi, VIVO, OPPO, Lenovo, and Transsion phones that are popular in Africa. The consumer electronics industry has created the world's most valuable company, Apple, with a value of 13.5 trillion yuan. After the epidemic, the consumer electronics industry still has great development opportunities with the support of 5G.