According to a Brand Finance report for the year 2017, Apple which holds the coveted position as the world’s most valuable brand, has been overtaken by its rival for the crown Google.
You would recall that Apple has for the last five years held sway as the world’s most valuable brand. But it seem like not even the record sales it posted from its first quarter report two days ago is able to make them retain the number one spot. Apple was once a paragon of branding excellence. The report noted that Brand Finance’s analysts had remained bullish about Apple’s potential to recover its lost momentum, but the rot has now truly set in, with brand value falling 27% since early 2016 to US$107 billion, which sees it lose its status as the Global 500 world’s most valuable brand.
Google took over the crown as the world’s most valuable brand with a value of US$109 billion, according to the report. It says Google’s Ad revenues were up 20% in 2016, despite a fall in cost per click, as ad budgets are increasingly directed online while Apple’s “brand has lost its luster and must now compete on an increasingly level playing field not just with traditional rival Samsung, but a slew of Chinese brands such as Huawei and OnePlus in the smartphone market, Apple’s key source of profitability”
Brand Finance is the world’s leading independent branded business valuation and strategy consultancy. Headquartered in the Brand Exchange, a refurbished listed building in the City of London, we are present in over 20 locations worldwide.
Brand Finance is a specialist consultancy dedicated to the better understanding of marketing finances, offering a highly professional approach to marketing accountability and brand evaluation. Brand Finance has developed transparent and accessible brand evaluation methodologies grounded in marketing and investment practice.
Every year Brand Finance values over 3,500 brands – across all sectors and geographies. The results are tabulated and published in the media to raise awareness of brands as valuable business assets, which must be managed and invested in. Other Brand Finance studies include the Nation Brands 100, the Football 100 and the Global Intangible Finance Tracker (GIFT).