In November last year, we did bring you word that Apple has managed to retain its position as the most valuable brand name in the world for the third year running, but just like today’s news where many good things have come to an end, so too, must Apple’s run. The other name that has surpassed Apple in this department? It would be none other than Google, at least according to this particular market research firm that compiles an annual list of top worldwide brands.
Research agency Millward Brown’s 2014 100 Top BrandZ report claims that it is due to Google’s innovation for the year that has allowed it to leapfrog Apple in the annual standings, thanks to the numerous “Google X” initiatives including the likes of Project Loon as well as its smart contact lenses that are able to measure glucose levels for diabetics.
Benoit Tranzer, regional managing director of Millward Brown Europe, shared, “Google has been extremely innovative this year with Google Glass, investments in artificial intelligence and a range of partnerships. All these activities send a very strong signal to consumers about the essence of Google.”
To put it in a more tangible manner, the firm estimated that Google’s brand value has soared by 40% over the past year to $158.84 billion, while Apple saw its brand value dipped by 20% to $147.88 billion. Will Google be able to retain its top spot next year? Only time will be able to tell.