New Delhi: Apple is out, Google is in.
Google has surpassed Apple as the world's most valuable brand, according to MillwardBrown's 2014 BrandZ ranking. Cupertino-based Apple had previously held the top ranking for three years running.
Apple fell 20 per cent in brand value to an estimated $147.9 billion amid a "growing perception that it is no longer redefining technology for consumers," according to the New York-based research firm. At the same time, Google's brand value grew 40 per cent to $159 billion since the 2013 rankings were issued.
Millward Brown determines the value of the brands it ranks by surveying more than 2 million consumers around the world and using their responses to figure out how much of a company's financial performance is due to its brand.
The results comes at a time when the public perception of Apple is that the company is resting on its laurels and that it's lost the mo-jo that made it the world's most valuable company -- both in terms of market cap and brand value. At the same time, Google is seen as pushing more unconventional, innovative products forward, like Google Glass. MillwardBrown reports cites Google has hugely innovative in areas such as artificial intelligence and "a multitude of partnerships" for its Android operating system.
It was a good year in general for tech companies, with the industry accounting for the top four most valuable brands and five of the top 15.
The other big winner was the apparel industry, which saw its top 10 most valuable brands grow in value by 29%.
While Google grabbed the overall top slot in MillwardBrown's rankings, China's Tencent was the fastest riser in the rankings. The Chinese web portal's brand value nearly doubled to $54 billion, putting it at #14 in MillwardBrown's 2014 BrandZ ranking.
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