Global Powerhouses Who Were Founded in Developing Nations

In decades gone by, the most successful brands that have taken the world by storm have largely been those created in the most developed and powerful nations. However, increasing globalisation, thanks in part to the internet and more affordable travel, has completely changed this narrative, allowing anyone with an internet connection the chance to forge their own path and develop a world-leading brand that makes everyone sit up and take notice. Here are just a few examples of some of the most successful companies that have come from developing nations.

Huawei

It might not seem like it now, but China was classed as a developing country as recently as 2014. The World Bank considers countries with a per capita income of less than $12,275 as developing. China's per capita income of $7594 in 2014 put it firmly in this category when Huawei was launched in 1984.

Huawei has gone on to become a household name across the globe in the last decade. Originally known for making Wi-Fi dongles, the company have grown massively in the last decade, now offering a much wider range of products, including 5G technology and mobile phones with industry-leading cameras. Despite its humble origins, Huawei has grown into a huge multinational corporation that has revolutionised the mobile phone industry.

Reliance Industries

Reliance Industries roots trace back to India in the 1960s. After starting out as a synthetic fabrics mill, the company has expanded over the decades to become a multinational conglomerate, owning businesses across the energy, petrochemicals, textiles, natural resources, retail and telecommunications industries.

Reliance Industries is now ranked eightth among the top 250 Global Energy Companies, it features in 96th place on the Fortune Global 500 and is the eighth largest employer in India with nearly 195,000 employers as of late 2020. On 10th September 2020, Reliance Industries became the first Indian company to surpass $200billion in market capitalisation. Reliance Industries is now such a large company that it accounts for 5% of the Government of India's total revenue from customs and excise duty, as well as being the highest income tax payer anywhere in the private sector in India.

Lenovo

Lenovo is another benefactor of China's sudden explosion as a global player. Lenovo started out in Hong Kong in 1984, founded by 11 experienced engineers with a start-up budget of 200,000 yen (around £1000). The group was set up as a technology company and attempted to import television sets, but very quickly failed. Failed attempts to rebrand followed – the group had stints providing quality assurance for computers and manufacturing watches, before deciding to manufacture and sell their own computers under the name Lenovo in 1990.

Lenovo became a public company in order to attempt to fuel growth and began making acquisitions in order to expand. In 2005, Lenovo bought IBM's personal computer business which included the ThinkPad laptop and tablets, which are still produced today. This pushed the company into foreign markets, where Lenovo is now a well-known name.

Today Lenovo has its headquarters in Beijing, as well as operational headquarters in America and Singapore. The company is known for designing, manufacturing and selling computers, smartphones, electronic storage devices and smart TVs. Lenovo has become the world's largest computer brand by unit sales, as of January 2021.

There is no doubt that globalisation has allowed brands in developing countries to flourish. 50 years ago, it would be unlikely that the average person in the UK would know of a Chinese computer manufacturer or an Indian textiles giant. Today, more companies from developing nations are able to compete in the world's biggest markets.

In more recent years, the impact of new technology on fast-growing industries like competitive gaming and cryptocurrency is also opening them up to developing nations. The question is, what is the next big piece of technology to launch and which country will it come from? No doubt there are plenty of options in the pipeline, so we'll have to wait with bated breath to see what comes next.

(Devdiscourse's journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)