Google dethrones Apple, becomes world’s top brand
Google has overtaken Apple to become the world’s most valuable brand, independent consultancy Brand Finance announced Wednesday in its Global 500 report, according to a report by Anadolu.
The search engine’s brand value rose 24 percent to $109.5 billion in this year’s report, from $88.2 billion last year.
The company “enables the world’s biggest brands reach their customers and build their own brand equity (through search and advertising respectively)”, the report said.
“Google remains largely unchallenged in its core search business, which is the mainstay of its advertising income,” it added.
Apple’s brand value fell 27 percent to $107.1 billion from $145.9 billion in the 2016 report; thus losing its lead as the most valuable brand — a title it held since 2011.
The tech giant’s “evangelists are beginning to lose their faith. The snaking queues of early adopters have shrunk almost to the point of invisibility,” the report noted.
“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 cannot demonstrate that genuinely innovative technologies desired by consumers are in the pipeline,” it added. (Anadolu)
