Defending its number two ranking is Apple, whose brand value shot up by 37% to $146.3 billion. However, the report’s authors described its future as “looking bleak.” “Apple has failed to diversify and grown overdependent on sales of its flagship iPhones, responsible for two thirds of revenue,” the report said. “With the advent of emerging world brands like Huawei, Apple’s increasing focus on what are effectively luxury products may cost the brand a fair share of the global mass market, limiting the potential for brand value growth.” Meanwhile, Google came in at a (relatively) distant third with a modest 10% increase in brand value to $120.9 billion. “Google is a champion in internet search, cloud and mobile OS technology but, similar to Apple, its focus on particular sectors is holding it back from unleashing the full potential of its brand,” the report authors said. Climbing two positions was the South Korean tech giant, Samsung at number four, whose brand value rose by 39% to $92.3 billion. On the other hand, social networking giant, Facebook climbed from ninth to fifth spot, with its value up by 45% to $89.7 billion. This is the first time since the inception of the Brand Finance Global 500 study in 2007 that all top five companies in the table are from the technology sector. The most valuable brands list continues to include telecom firms like AT&T, and Verizon, alongside retail giant Walmart, and China’s ICBC bank. Of the world’s top brands, 42% are based in the U.S., followed by China at 15%, then Germany and Japan, both at 7%.
