Google Overtakes Apple In Brand Value
While the two technology giants - Google and Apple - may have made peace in the courtroom, their battle seems to be never ending when it comes to products, marketing, strategy and other things. A recent report by global market research agency Millward Brown reveals that Google has overtaken its archrival Apple as the world’s top brand in terms of value by being more innovative and appealing to its customers.
Google’s brand value shot up 40% in a year to $158.84 billion in this year’s report by the research firm.
“Google has been extremely innovative this year with Google Glass, investments in artificial intelligence and a range of partnerships,” said Benoit Tranzer, a senior spokesperson at Millward Brown in a statement.
Google Glass, the Internet-linked eyewear sold more than the regular eyewear products in the market last year, it said. “this send a very strong signal to consumers about the essence of Google,” Tranzer said. Apple, which dominated the top position for three consecutive years, saw its brand value fall by 20% to $147.88 billion.
The report comes at a time when Apple has already been perceived by critics for resting on its laurels and not innovating at the same pace it has show in the past. At the same time, Google is seen as pushing more unconventional, innovative products forward, even if many of them aren’t close to being ready to go on the market. The rankings further substantiate this perception.
While Apple may have slipped out of the top spot, IBM ranked third with a $107.5 million, while Microsoft and McDonald’s made it on the top five for innovation and brand value.
(Image courtesy: Reuters)
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