After 5 years of ruling the brand market and establishing its reign, Google has taken over the company’s position and is now the world’s most valuable brand. Google ranks top with a $109.5 billion monetary value, a 24 percent increase compared to last year. Apple, meanwhile, declined to $107.1 billion compared to $145.9 billion last year.
Ever since 2011, Google was in a constant competitive battle with Apple to rank itself as the top brand in the world, but failed with near hits as Apple dominated the smartphone and the tablet segments. Apple, however, started to experience a downfall in the sales mainly because of lack of innovation and insufficient upgrades from one iPhone generation to the next, and gradually reached a brand saturation point.
Because of its advertising income, Google remains largely unchallenged and is more likely to retain its customers since it’s place as the dominant search engine safeguards its stream of revenue. The increase in the brand value was more or less propelled by mobile search, video ads, and its expansion in newer business lines like cloud computing.
Google observed an increase in its brand value by over 24%, whereas Apple slumped with 28%. “Apple failed to maintain its technological advantage and has repeatedly disillusioned its advocates with tweaks when material changes were expected”, says a source. Apple failed to generate a decent amount of revenue from the Apple iWatch and other products that did not meet the user expectations and experienced a setback.
With Google at the top of the world’s 500 brands, Apple takes second place, followed by Amazon, AT&T, and Microsoft. Rounding up the top 10 are Samsung Group, Verizon, Walmart, Facebook, and the Industrial and Commercial Bank of China.