Google Overtakes Apple As World's Most Valuable Brand

Apple's fall in the Brand Finance Global 500 ranking after five years at the top comes as the study claims its brand value dropped 27% to 107.1 billion U.S. dollars over 2016, while Google's rose by 24% to 109.5 billion USA dollars.

In a sign of the times, tech-related brands dominate the most valuable index with Amazon, Microsoft, Samsung and Facebook among other companies included in Global Finance's rankings. Google last occupied the position of the world's most valuable brand in 2011.

JB Hi-Fi's brand valued jumped 75 per cent, taking the electronics retailer from 42nd last year to 24th this year at $1.1 billion.

Another of reason supposedly contributed to Apple's drop.

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"Put simply, Apple has over-exploited the goodwill of its customers, it has failed to generate significant revenues from newer products such as the Apple Watch and can not demonstrate that genuinely innovative technologies are in the pipeline", Brand Finance wrote in its report.

Brand Finance said of Google: "The company remains largely unchallenged in its core search business, the mainstay of its advertising income".

Amazon held onto its position as the third most valuable brand, with a 53% increase in brand value to $106 billion. A number of Chinese brands also rose up in the ranks. "Gradually goodwill towards American brands has been eroded", Haigh explained.

To determine a brand's value, Brand Finance evaluates factors such as marketing investment, familiarity, loyalty, staff satisfaction and corporate reputation to determine the "strength" or "power" of a brand.

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Alibaba jumped 94% to be ranked the 23rd most valuable global brand at $35 billion, while Tencent surged 124% to 47th place at $22 billion, and WeChat increased its value 103% to $13 billion to take the 100th spot. They came in with brand values of $10.7 billion, $10.6 billion and $8.4 billion respectively.

Google is biting into Apple's luster as the company struggles to retain its brand evangelists.

"The building blocks for Lego's brand strength have always been present, but the release of "The Lego Movie" in 2014 provided the final push required to make Lego the world's most powerful brand in 2015", wrote Brand Finance.

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