After three years of being named the world's “most valuable brand” in Millward Brown's annual survey, Apple has finally been overtaken by Google. The Glass-maker took the No. 1 position in the 2014 annual BrandZ study, reports The Telegraph.
Cupertino has been awarded the accolade year after year for some time, though in 2013 we did remark that Google was indeed gaining on Apple. IBM, McDonald's, and Coca-Cola all came in behind Apple last year, and further companies in the Top 10 included AT&T, Microsoft, Marlboro, Visa, and China Mobile.
Now, however, the tables have turned: Google has taken the No. 1 position and Apple has been bumped down to second-place. The Telegraph reports that the change comes as Apple's brand value was seen to decrease by a significant 20 percent over the last year (from $185 billion to $147 billion) while Google, on the other hand, saw a 40 percent increase in brand value (from $113 billion to $158 billion).
Millward Brown noted:
Google has knocked Apple off its perch after three years at the top. Apple is performing well but is it still redefining technology for consumers?
Of course, Google might appear on the surface to be developing its consumer-oriented technology at a quicker pace than Cupertino: its Glass project has been gaining traction (despite continuing to receive lukewarm reviews from users and critics), and the company's recently announced Android Wear software development kit (SDK) evidences Google's active interest in wearable technology.
Apple, on the other hand, has yet to unveil its anticipated “new product categories” for 2014, and has suffered as a result.
It's my opinion that Cupertino shouldn't be dismissed too quickly: in previous years, Apple has developed, tested, and – most importantly – perfected its game-changing products in secret before releasing them to the public. Google, on the other hand, adopts a far more open approach to product development yet is perceived to be the more innovative for it.
It'll be interesting to see how Apple's brand value changes once its long-anticipated “iWatch” hits the market. Until then, you can check on the full BrandZ report by heading over to Millward Brown's website.
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