'Huawei world's 40th most valuable brand'London, April 3 (AZINS) Huawei advanced to become the world's 40th most valuable brand in 2017 -- up seven places from its position a year ago, British brand valuation firm Brand Finance said on Monday.

In its annual ranking, Brand Finance valued Huawei at $25.23 billion -- up 28 per cent from the previous year.

In 2016, Huawei shipped over 140 million smartphones globally, which made it the world's third largest vendor, with a market share of 10 per cent -- up 29 per cent from a year ago.

Huawei Consumer Business Group revenue for 2016 increased 42 per cent from 2015, marking the fifth consecutive year of steady growth.

Every year, Brand Finance evaluates thousands of global brands to determine its "Brand Finance Global 500" list of today's most valuable brands.