Google beats Apple as most valuable brand, as Chinese brands rise up the rankings
Google has been named the world’s most valuable brand, knocking Apple into second place, as Chinese brands rise up the global list.
Google has been named the world’s most valuable brand
Google secured the top spot after a 24% yearly increase saw the brand valued at $109 billion, according to the Brand Finance Global 500 list.
After five years in the top spot, Apple dropped to second place after its brand value plunged 27% to $107 billion. Despite this, Apple reported this week that it had seen its most successful quarter ever.
The report cited Apple’s “failure to maintain technological advantage” particularly under increased competition from brands such as Samsung and Huawei. Whereas, Google remains “largely unchallenged in its core search business” as advertising revenues increased 20% in 2016.
Amazon held onto its position as the third most valuable brand, with a 53% increase in brand value to $106 billion. It was followed by AT&T, Microsoft in 4th and 5th place respectively.
Samsung proved its brand value is stronger than a global recall securing the 6th position, a 13% increase on the previous year to $66 billion, while Facebook surged 8 places to rank 9th, with a brand value of $62 billion, an 82% increase on the previous year.
However, it was the Chinese brands that demonstrated some of the largest growth in brand values. Alibaba jumped 94% to be ranked the 23rd most valuable global brand at $35 billion, while Tencent surged 124% to 47th place at $22 billion, and WeChat increased its value 103% to $13 billion to take the 100th spot.
A total of 16 Chinese brands were ranked in the top 100 list with China’s ICBC bank and telecommunications company China Mobile both securing positions in the Top 20 (10th and 11th, respectively).
Lego regained its position as the world’s most powerful brand, knocking Disney down to sixth place behind Google, Nike, Ferrari and Visa.
The Brand Finance Global 500 list is an annual ranking of global brands based on value and power.