Apple, an American multinational technology company that specialises in consumer electronics, computer software, and online services, has topped a list of the world’s best global brands for the ninth consecutive year.
A New York-based management consulting firm Interbrand put the tech giant in first place on a list of the top 100 brands, assigning it a “brand value” of $408.3 billion, a surge of 26 percent in a year. Interbrand evaluates a firm’s brand value based on its financial performance, influence on purchases and the brand’s future competitiveness.
Big Tech dominated Interbrand’s list, with the top five spots going to Apple, Amazon, Microsoft, Google and Samsung. Coca-Cola, Toyota, Mercedes-Benz, McDonald’s and Disney rounded out the top 10.
Apple has ensured everyone in the organisation is moving towards a “clear, ambitious goal”, Interbrand said in its report. Apple has successfully diversified its product portfolio and entered into new fields such as health care (with the Apple Watch now recording blood oxygen levels), subscription-services in entertainment, data-storage and music.
“It has continued to stay close to customers and it continues to find strong online retail solutions despite complications caused by the pandemic,” Interbrand said. This week, Apple launched its latest MacBook Pro laptops – powered by the company’s in-house M1 Pro and M1 Max chips – and new AirPods as it looks to diversify its product range and attract more professional users.
The brand value of the 100 firms now stands at $2.7 trillion, up 15 percent from $2.3tn last year, the highest-ever growth rate in the 22-year history of Interbrand’s Best Global Brands. The average brand value increased 10 percent, significantly larger than the 1.3 percent last year, “owed largely to the economic disruption caused by Covid-19,” Interbrand said.
Technology is the fastest-growing sector, with an average brand value change of 23 per cent on an annual basis. It is also the most valuable sector by average brand value, followed by beverages and sporting goods.
