Apple has been announced by Interbrand as the world’s most valuable brand, bringing the curtain down on Coca-Cola’s 13-year reign at the top.
The tech giant took the top spot with an estimated brand value of $98.3 billion, up 28 percent from a year ago. While the value of the Coca-Cola brand also increased – by 2 percent to $79.2 billion – the drinks company dropped to third position, with Google coming in at number 2 with a $93.3 billion evaluation.
The iPhone and iPad maker has been moving steadily up the chart in recent years, reaching number 8 in 2011 and number 2 last year.
Corporate identity and brand consulting company Interbrand has published its widely followed top-100 valuable-brands list since 2000 as part of its annual Best Global Brands report. To be considered for the list, a company has to make at least 30 percent of its revenue from outside its home country, have a presence on three major continents, and have broad geographic coverage in emerging markets.
Interbrand bases its results on a number of criteria such as financial performance over the last 12 months; the role of the brand, which looks at “the portion of the decision to purchase that is attributable to the brand”; and brand strength, which considers “the ability of the brand to create loyalty”.
Commenting on the report’s findings, Interbrand CEO Jez Frampton lavished praise on Apple, saying the company has “changed our lives, not just with its products but also with its ethos….As legions of fans can attest, few brands have enabled so many people to do so much so easily.”
He added that as a company with a reputation for “revolutionizing the way we work, play and communicate, Apple has set a high bar for aesthetics, simplicity, and ease of use that all other brands are now expected to match.”
Interbrand’s reports during the last decade show just how quickly the fortunes of a tech company can change, with Nokia charting at number 6 in 2003 when Apple were at 50. This year, the once mighty mobile company – recently bought by Microsoft – finds itself in 57th position. The report also reflects BlackBerry’s dire situation, with the Canadian company this year tumbling right off the list after peaking in 2010 at number 54.
Apple may have a tough time staying at the top for as long as Coca-Cola, however, with plenty of other companies, including the likes of rivals Google and Samsung, making their way up the charts in recent years.
Technology companies took 5 of the top 10 positions on Interbrand’s 2013 list, with Google (2), Microsoft (5), Samsung (8), and Intel (9) all performing well.