World Bulletin / News Desk
Google has become the world's most valuable brand, taking the reigns from Apple, independent consultancy Brand Finance announced Wednesday in its Global 500 report.
The search engine’s brand value rose 24 percent to $109.5 billion in this year's report, from $88.2 billion last year.
The company "enables the world’s biggest brands reach their customers and build their own brand equity (through search and advertising respectively)", the report said.
"Google remains largely unchallenged in its core search business, which is the mainstay of its advertising income," it added.
Apple's brand value fell 27 percent to $107.1 billion from $145.9 billion in the 2016 report; thus losing its lead as the most valuable brand -- a title it held since 2011.
The tech giant's "evangelists are beginning to lose their faith. The snaking queues of early adopters have shrunk almost to the point of invisibility," the report noted.
"Put simply, Apple has over-exploited the goodwill of its customers, it has failed to generate significant revenues from newer products such as the Apple Watch and cannot demonstrate that genuinely innovative technologies desired by consumers are in the pipeline," it added.
The report also stressed that the Apple brand "has lost its luster and must now compete" with Chinese smartphone manufacturers like Huawei and OnePlus, in addition to its traditional South Korean rival Samsung.
Amazon retained third place on the list with $106.4 billion, despite increasing its brand value by 53 percent from last year.
"Amazon has stated it will create 100,000 jobs in the U.S. over the next 18 months. Such confidence suggests that Amazon may well see a new brand at the top of the Brand Finance Global 500 in 2018," the report said.
Brand value is calculated by scaling a company from 0 to 100, based on its emotional connection, financial performance, sustainability, and taking current and future revenues of the company into account, on top of its core businesses, licensing agreements and portfolio management.
Johnson, kicking off a trip to Japan, visited the robotic centre at Waseda University, which works closely with Britain's University of Birmingham on robotic technologies.
Juno spacecraft will get closest look ever at planet’s massive, centuries-old storm
Novel way of serving has attracted a large number of customers to pizza place in northeastern Multan city
Due to be launched in 2018, BepiColombo will be the European Space Agency's first mission to the closest rock to the Sun.
In historic first, company successfully lands cargo capsule also used to resupply ISS in 2014
Push to cloud business could mean thousands of layoffs, sources say
Company will no longer pull data from free Gmail inboxes to personalize ads
Kepler telescope reveals details of more than 200 newly-found planets in Milky Way
"Today, it is our pleasure to officially announce the newest member of our 737 family, the 737 MAX 10," Kevin McAllister, head of the company's commercial aviation division, told journalists as the Paris Air Show got under way.
The Twilight Express Mizukaze departed Osaka on its maiden trip with around 30 well-heeled passengers on a journey to the far reaches of Japan's main island.
Google has launched a website to help you find the Qibla – the direction of prayer.
Bilkent University students designed Arbo which can babysit and notify of gas leaks in the house
The refurbished Dragon cargo capsule soared into space aboard a Falcon 9 rocket at 5:07 pm (2107 GMT) from Cape Canaveral, Florida.