Apple Inc. (NASDAQ:AAPL) outpaced The Coca-Cola Company (NYSE:KO) to clinch the title of 2013 Most Valuable Brand, ending the 13 year long winning streak of the soft drink maker in the annual Best Global Brands report made by Interbrand. Coca Cola slipped to third position behind Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG) this year.
Tech Brands ruling the Top 10
Technology giants have taken most spots in the top ten brands this year including companies like Apple, Google, Microsoft Corporation (NASDAQ:MSFT), Samsung and Intel Corporation (NASDAQ:INTC). IBM secured sixth place, but under the category of business service brand.
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Apple Inc. (NASDAQ:AAPL) was at second place last year but witnessed rapid growth in its brand value by almost 28 percent to $98.3 billion. Google was at the fourth spot last year but surged to second place in 2013.
“Few brands have enabled so many people to do so much so easily, which is why Apple has legions of adoring fans,” Interbrand said in the report. Further, the report mentioned that Apple has set the new standards for aesthetics, simplicity and ease of use, which is a milestone for other tech brands and Apple will have to cross that bar.
Apple Challenged by Samsung
Korean giant Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) brand value surged 20 percent to $39.6 billion and came at eight spot. The firm is gaining traction worldwide by shelling out over $4 billion in marketing last year. Samsung has also launched high innovative products like Galaxy S4 and Galaxy Note II, as per the report.
Further, the report said that Apple Inc. (NASDAQ:AAPL) will need to outperform Samsung in Chinese mobile market, which is the largest smartphone market in the world. Apple fans and critics are equally eager for an innovative product from Apple, which probably could be an iWatch wearable computer or something entirely unpredicted yet, according to Interbrand reports.
Apple got a taint on its image after it was convicted for unfairly dealingwith five large book publishers to set e-book prices along with being accused of making workers work under grim conditions in China at its suppler Foxconn.
Apple Inc. (NASDAQ:AAPL) has seen declining rate of revenue in the third quarter of fiscal 2013. For the quarter, revenue was flat at around $35.3 billion, whereas net profit declined to $6.9 billion from $8.8 billion for the corresponding quarter last year. iPhones market share came down in the second quarter recording the lowest level in the three years at 13.6 percent as against Samsung’s 33 percent, according to research firm Strategy Analytics.