Google Inc. (NASDAQ: GOOG) overtook Apple Inc. (NADSAQ: AAPL) for the number one spot on MillwardBrown’s BrandZ Top 100 Most Valuable Global Brands 2014 ranking list. Google’s brand value was estimated to be worth $158.8 billion, an increase of 40% year on year, whereas Apple dropped 20% down to $147.8 billion.
Apple’s Glass Ceiling
For the past three years Apple had a hold of the number one spot; however, there is a growing perception that the brand no longer redefines technology and lacks the dramatic new product launches as it did in the days where Steve Jobs was at the helm. The problem seems to be that Apple has set such high expectations in its innovative product offerings that consumers have begun to expect something completely innovative every few years.
While Apple’s growth has slowed down these past few years, Google has been very innovative in the past year with products like its Google Glass, artificial intelligence in automobiles, and various partnerships for its Android operating system. Google Glass is currently still in its testing phase selling at $1500 for anyone who would like to help test it. In addition, its artificial intelligence for automobiles has been surprisingly functional in allowing cars to drive themselves from location to location.
Technology Still Tops in Most Valuable Brands
IBM Corporation (NYSE: IBM), the world’s leading business-to-business brand, is still at the number 3 position with brand value estimated at around $107.5 billion. Microsoft Corporation (NASDAQ:MSFT) follows behind at $90.1 billion.
Overall technology firms performed the best in the rankings, with China’s Tencent showing the biggest growth. This Chinese firm grew nearly double in its value up to $53.6 billion; a growth of 97% compared to last year. It has grown to become China’s largest and most used Internet service portal and provides other mass media and internet services.
Western brands still dominate the top 100; however, China has the most brands in the top 100 at 11 brands compared to any other brand outside of the U.S. and Europe.