In the latest tussle of the tech titans, Amazon has surpassed Google to be the most valuable brand in the world.
Yesterday, the retail and technology behemoth announced a move into healthcare. New research reveals that it is valued at $150bn (£106bn), an increase of more than 40 percent which helped it overtake Google.
On the other hand, Apple was able to maintain its number two spot with the company’s brand estimated to be worth $146bn by the annual Brand Finance Global 500 Ranking, an increase of 37 percent on 2017. Meanwhile, The brand worth of Google grew by only 10 percent to $121bn, leaving it behind in the third place.
“Jeff Bezos once said that ‘brands are more important online than they are in the physical world’. He has proved himself right by choosing the name Amazon, known as the largest, most powerful river in the world, as 23 years later the Amazon brand carries all before it as an unstoppable force,” stated David Haigh, the Brand Finance chief executive.
“The strength and value of the Amazon brand gives it stakeholder permission to extend relentlessly into new sectors and geographies. All evidence suggests that the amazing Amazon brand is going to continue growing indefinitely and exponentially.”
Also, Samsung climbed two places in order to rank fourth with a value of $92bn closely followed by Facebook, which was able to make it into the top five with a value of $90bn, up from its ninth rank last year with an increase of 45 percent.
For the first time, tech firms now make up the top five.
The said rankings are based on a “brand strength rating” which considers various aspects including stakeholder equity, business performance, and marketing investment, and by calculating the future revenues and economic benefit of licensing the brand on the open market.