Photo taken on Feb. 21 shows the Huawei press conference held on the eve of the official start of the Mobile World Congress (MWC) in Barcelona, Spain. [Photo/Xinhua]

According to market researcher International Data Corporation (IDC), the number of smartphones Huawei shipped in the first quarter of 2016 reached 27.5 million units.

Last year, three Chinese companies: Xiaomi Corp, Alibaba Group Holding Ltd and Tencent Holdings Ltd were nominated on the list, with the smartphone manufacturer ranking second.

According to the website of the magazine, some of this year's stars are large companies, like Amazon and Alphabet that are using digital technologies to redefine industries. Others are wrestling with technological changes: companies like Microsoft, Bosch, Toyota, and Intel. Also on the list are ambitious startups like 23andMe, a pioneer in consumer-accessible DNA testing and 24M, a re-inventor of battery technology.

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