A new survey has revealed that Apple was the No.1 valuable brand for consecutive three years, but now Google has taken top spot.
What is the news?
According to a new survey, Google is declared the most valuable brand of the year 2014. It has replaced Apple for the top spot.
How did it happen?
The Millward Brown’s BrandZ Top 100 Most Valuable Global Brands ranking shows that Google’s brand value has jumped up by 40%. At the same time, Apple’s brand value has decreased by 20%. So now the new brand value of Google is $159 billion, and the new brand value of Apple is $148 billion. For the last three years, Apple was at the No.1 position. However, the increase in Google’s brand value and decrease in Apple’s brand value has taken Google to the top position.
The cause of Google’s rise
In the last financial quarter, the profit of Google was $3.45 billion, and the total revenue of Google was $15.4 billion. This is mainly due to investment by the company in various projects like Google Glass, forthcoming line of smartwatches, self-driving cars and different Android-based joint ventures.
Technology brands are becoming more valuable
In the ranking, one can see that the top positions were taken by technology brands. This was due to higher growth rate of the brands. The brand value of Facebook is $36 billion now after an increase of 68%. The new position of Facebook is 21st in the ranking. The brand value of Tencent, a Chinese internet portal, is slightly over $53 billion after an increase of 97%. Tencent’s new position in the rankings is 14th after it has climbed up to seven positions.
Growth of other famous brands
The growth of Siemens’, Yahoo and Samsung was also noted to be quite steady. Siemens’s growth rate was 36% while Yahoo’s growth rate was 44%. The Samsung’s grown rate was recorded 21%.
The new entries
Twitter and LinkedIn are the new entries to the ranking. The position of Twitter is 71st in the ranking; it has a worth of $14 billion. The position of LinkedIn is 78th in the ranking, and it has a worth of $12 billion.
What Peter Walshe says?
According to the Global BrandZ Director at Millward Brown Mr. Peter Walshe, the brands like Google, Twitter, LinkedIn, Facebook and Tencent are digital service brands that have become an important part of our daily lives; they are not just tools anymore. Walshe further said that these brands offer new types of communication that attract people and let them do whatever they imagine. At the same time, these new brands help people organize and change their lives. Google is trying to make more interesting products in order to attract more people so it can further increase its brand value.