Google has taken over iPhone maker, Apple’s place as world’s most valuable brand in terms of value. This news was announced on Wednesday by a global market research agency Milward Brown, France. Top 10 out of 100 rankings are dominated by US Firms which isnt much of a surprise. Milward Brown says that, brand value is calculated on the basis of the firms' financial performance and their standing among consumers.
Tech major, Apple had maintained is position as most valuable brand in the world for consistently in a row for 3 years preceding to this report. But sadly, the Apple’s brand value took a deep dive of 20 percent in the past year and fell under 14billion USD, where as Google’s brand value shot up like a rocket by upto 40 percent in last year with a value of 158.84 billion USD, hence securing its place over Apple.
"Google has been extremely innovative this year with Google Glass, investments in artificial intelligence and a range of partnerships," said Benoit Tranzer, the head of Millward Brown France.
In the same report, it is also noted that French luxury brand Louis Vuitton has ranked 30th position with a value of 25 Billion USD, while, Facebook‘s brand value has shot up by 68 percent that is around 36billion USD. This has helped Facebook secure 21st place in the ranking. Twitter has been ranked 71st and LinkedIn is placed at 78 rank .
Peter Walshe, Global BrandZ Director at Millward Brown, said: “Digital service brands such as Google, Facebook, Twitter, Tencent and LinkedIn are now more than just tools, they have become part of our lives.He also added-"They offer new forms of communication that absorb people’s attention and imagination, while also helping them organize the rest of their lives at the same time. To gain more of our mind-space brands such as Google are making ambitious plays across existing category boundaries.”
Though Apple is down as a brand it is not completely out. Apple had two incredible products in the pipeline to gain back the lost ground by the fall of 2014. Industry watchers are anticipating Apple's iPhone 6 and "iWatch' to rebuild Apple's reputation as well as profitability in the market. It would be very interesting to see the Apple's market report in future.