After five years at the top, Apple has been replaced by Google as the world's most valuable brand.
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(CCM) — Google has stolen Apple's crown to become the king of global brands, according to a Tech Times report. Apple has been the most valuable global brand for the last five years, but last year its value declined by 26.5% from $145.9 billion to $107.1 billion, according to a study by Brand Finance, a valuation consultancy, quoted in the report. By contrast the Google brand value leapt 24% last year to $109.5 billion, exceeding Apple's brand value by over $2 billion. Brand Finance explains the drop in the value of Apple's brand by saying there has been a "perceived over-exploitation" of customers' goodwill, and also notes that other technology companies have begun to catch up with Apple — most notably Chinese brands that have increased their presence in the smartphone market. Sales of Apple's iPhone, which account for the majority of the company's profits, slowed in 2016, and the company was also supplanted by local manufacturer OPPO as the firm with the best-selling smartphone in China.
Amazon.com remains in third place in the rankings despite a substantial jump in its brand value, followed by AT&T and Microsoft. The remaining top 10 spots are taken up by Samsung, Verizon, Walmart, Facebook, and the Industrial and Commercial Bank of China.
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