Apple overtakes Google as world’s top brand

Apple has overtaken Google as the world’s most powerful brand with a value of $153bn (£93bn), according to the annual brand rankings by Millward Brown.

The market research firm's Brandz Top 100 study said that the iPhone maker has increased in brand value by 84 per cent since last year. Meanwhile, Google has fallen to second place after spending four years at the top.

Google is now valued at $111.5bn, and is the only company in the top 10 to have declined in brand value, according to the research.

The drop of two per cent is indicative of why Google co-founder Larry Page recently took over as chief executive from Eric Schmidt, with a mission to refocus the company and take the initiative against fast-moving rivals.

“Our brand valuations are a powerful measure of an organisation’s ability to create real and lasting value for shareholders,” said Eileen Campbell, Millward Brown chief executive.

“By nurturing its brand and constantly innovating, Apple is able to command a high price premium and weather economic turbulence, providing a global business success story that other brands can learn from.”

IBM dropped from second to third place in the rankings, but still managed to increase its brand value by 17 per cent since last year. Microsoft is in fifth place following McDonald's.

Technology brands dominate the rankings, occupying six of the top 10 places and  a third of the top 100.

Facebook made its debut in the top 100 this year at 35 with the highest increase in brand value, at 246 per cent. Millward Brown values the social network's brand at $19.1bn.

The rankings attempt to put a dollar value on a brand based on current and expected future earnings.

The figure is generated from hard economic data as well as softer variables such as consumer loyalty and perceived growth potential.