Apple’s reign as the world’s most valuable has been ended by Google after three years at the top of the brand chain, according to research company Millward Brown. Apple’s brand value lost ground by 20 percent due to a reducing influence as a technology pacesetter according to the New York based firm in their 2014 BrandZ ranking.
“Whilst Apple remains a top performing brand, there is a growing perception that it is no longer redefining technology for consumers, reflected by a lack of dramatic new product launches,” said Millward Brown Managing Director Nick Cooper in a statement.
Cooper commented that Google had been hugely innovative in the last year with Google Glass, artificial intelligence and several partnerships that have potential to be groundbreaking.
“All of this activity sends a very strong signal to consumers about what Google is about and it has coincided with a slowdown at Apple.”
Technology companies took four of the top 10 positions with IBM and Microsoft trailing Google and Apple. Facebook was ranked at position 21 behind Chinese internet portal Tencent which gained by 97percent to position 14.
The BrandZ Top 100 Most Valuable Global Brands study, commissioned by WPP and conducted by Millward Brown Optimor, is now in its ninth year. It is the only ranking that uses the views of potential and current buyers of a brand, alongside financial data, to calculate brand value.
The combined value of the Top 100 has nearly doubled since the first ranking was produced in 2006. The Top 100 today are worth $2.9 trillion, an increase of 49% compared with the 2008 valuation, which marked the start of the banking and currency crisis.
World’s biggest fast food chain McDonald’s and Coca-Cola took position 5 and 6 respectively while Visa, AT&T, Marlboro and Amazon finished in the top 10 most valuable brands.