Huawei has become the most valuable consumer electronics company in China with a value of 1.1 trillion yuan ($163.9 billion), according to the Hurun China Top 10 Most Valuable Consumer Electronics Companies 2020 report released on Oct 12.

Xiaomi ranks second with a value of 434 billion yuan, while Vivo surpasses its rival Oppo for the first time, grabbing the third spot with 175 billion yuan.

Five among the top 10 winners are mobile phone manufacturers, with total shipments reaching 620 million units last year, taking up 40 percent of global shipments.

Seven enterprises among the top 10 are located in the Greater Bay Area, while Xiaomi remains the only listed company among the top five players.