Huawei is the only Chinese company in Forbes' 2018 Most Valuable Brands

The company's valued at $8.4 billion.

Phones like the Mate 10 and P20 Pro have made 2018 an awesome year for Huawei so far, and all of that hard work appears to have paid off. The company recently announced that it was placed in Forbes' Most Valuable Brands for the second year in the row and is the only Chinese company on the list for 2018.

Huawei made its debut appearance on the list in 2017 at rank 88 out of 100, but this year saw the company move up to position 79. Huawei's brand value also increased by 15% year-over-year from $7.3 billion to $8.4 billion.

Brand value isn't the only uptick Huawei saw from 2017 to 2018. According to research from IDC, its market share increased by a whopping 13.8% and saw in increase in brand-awareness across the globe by 85% during 2017.

Huawei also notes that it spent RMB 89.7 billion on research and development in 2017 and more than RMB 394 billion over the past ten years.

As for the rest of Forbes' list, the top five spots went to Apple, Google, Microsoft, Facebook, and Amazon in that order.

Where to buy the Huawei P20 Pro in the U.S. and Canada