PARIS: The US Apple and Google brands which have become household names around the globe are worth more than $100 billion each, and top a ranking of the world’s biggest brands, consultancy Interbrand said.
In number one place, computer brand Apple has risen 21 percent in value this year to worth an estimated $118.9 billion (93.0 billion euros).
In second place, the brand value of Internet search engine Google has increased by 15 percent to $107.43 billion.
“The fact that Apple and Google have exceeded $100 billion is proof of the power of brands,” said Bertrand Chovet, associate director of Interbrand Paris.
It marks the first time since brand ranking began in 1974 that two brands have been worth that much, marketing firm Interbrand said in a statement.
The 2014 list includes the arrival of a Chinese brand, telecommunications giant Huawei in 94th place.
“Huawei, the world’s third largest maker of smartphones, has become one of the brand leaders in information technology and communication on a global scale,” Interbrand said.
The biggest movers in the 2014 brand ranking were social network Facebook, up 86 percent to 29th place, car-maker Audi, up 27 percent to 45th place, and Internet retail giant Amazon, up 25 percent to 15th place.
Interbrand considers three criteria to determine the value of a brand: the financial performance of the products and services sold under the brand; the role of the brand and especially its influence on consumers’ choice; and the strength of the brand, namely it’s ability to create and maintain a market advantage. Adapted from Arabnews