Huawei has best reputation among Chinese companies
May 22, 2018 Category China News Round-up, Weekly
Smartphone maker Huawei took the top slot among domestic brands in China for reputation, according to a new report from Racepoint Global, a U.S.-based marketing company and Reputation Institute, an advisory firm. The other Chinese firms that enjoyed high ranking in terms of reputation included Haier, SF Express and Gree. International brands such as Intel and Rolex continued to enhance their reputation in China among the over 280 companies surveyed. Huawei launched its Honor 10 smartphone in Great Britain last week. The Honor brand’s British sales surged 200% year-on-year in the first quarter while its total sales in international markets, excluding China, have more than doubled in the same period.
“Intangible assets are becoming more important than 40 years ago. Up to 87% of global market value was made up of intangible assets at the end of 2017,” said Nicolas Trad, President of the Reputation Institute. “Reputation helps predict a company’s financial performance,” he added. Chinese search firm Baidu, which had enjoyed a high reputation earlier, suffered a dip in fortunes and fell out of the top 120 rankings published by Racepoint. Trad added that reputation stands for the general public’s perspective on the company and it does not actually present the truth. “There is a gap between people’s perspective and the truth, and what companies need to do is to close the gap,” he said. The report pointed out that the quality of products and services is not the only factor deciding a company’s reputation. There are other factors including work ethics and leadership, he said. Reputation becomes more important as Chinese companies are expanding abroad.
“The value of the brand plays a significant role in whether an economy can be involved in the global value chain,” Liu Pingjun, President of the Chinese Brand Promotion Association, said, as reported by the China Daily.
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