According to the latest report by brand consultancy firm Interbrand Apple has outrivaled Coca-Cola to become the most valuable global brand of the year. Coca-Cola, which held the top position for the past 13 years, slipped to the third position.
The brand value of the iPhone maker, which was ranked second for 2012, grew almost 28 percent this year amounting to US$98.3 billion. Some of the other tech companies which found their place in 2013’s top five rankings include Google at number two position with IBM at number four and Microsoft at number five position. Last year, Google was at the fourth position, IBM at third and Microsoft was ranked fifth.
Interbrand in its report said “Few brands have enabled so many people to do so much so easily, which is why Apple has legions of adoring fans”. Apple has set new and high standards of ease of use, simplicity and aesthetics, which other tech brands need to match to exceed further, the report said.
Apple’s major rival, Samsung Electronics, was ranked eighth with a brand value of $39.6 billion up 20 percent from last year. The company’s $4 billion aggressive marketing expenses last year and launch of innovative products including the Galaxy S4 and Galaxy Note II have added to the company’s success, noted Interbrand in its report.
The biggest challenge for Apple now is to slow down Samsung’s growing momentum and capture the fast blooming Chinese mobile market. It is going to be tough for Apple to maintain its lead as the company has had some hits this year as it was found guilty of allegedly conspiring five leading book publishers to fix the e-book prices. Cupertino also ran into trouble with serious allegations about worker conditions at its China based supplier Foxconn and some ongoing patent disputes with Samsung.