With a brand value of $109.5 billion, Google has knocked Apple from the top spot as the world’s most valuable brand, according to Brand Finance’s Global 500 ranking.
This news follows a relatively tough year for Apple, with its brand value dropping by 27% over 2016 – from $145.9 billion to $107.1 billion. Google, on the other hand, experienced huge brand value growth of 24% (from $88.2 billion).
For the search engine, advertising revenues were up 20% in 2016 as budgets are increasingly directed online and it finds more lucrative revenue streams from digital consumers.
Google last occupied the position of the world’s most valuable brand in 2011. There were a number of other brands included on the list that possess B2B arms, including Amazon (third), Microsoft (fifth) and Facebook (ninth).
David Haigh, CEO of Brand Finance, said: “Apple has struggled to maintain its technological advantage. New iterations of the iPhone have delivered diminishing returns and there are signs the company has reached a saturation point for its brand.
“The Chinese market, where Apple has enjoyed a dominant market share, is becoming far more competitive with local players entering the market in a meaningful way.
“Samsung has also been successful in taking market share and financial analysts are projecting declining revenues and margins.”
1. Google
2. Apple
3. Amazon
4. AT&T
5. Microsoft
6. Samsung Group
7. Verizon
8. Walmart
9. Facebook
10. ICBC
