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RELEASE: Apple achieves first place as the most valuable brand in the world, according to Brand Finance

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RELEASE: Apple achieves first place as the most valuable brand in the world, according to Brand Finance

(Information sent by the signatory company)

- Apple achieves first place as the most valuable brand in the world, eclipsing Amazon, Google and Microsoft, according to Brand Finance

• Apple achieves a notable 74% growth in brand value

• AI grows with NVIDIA, the world's fastest growing brand

• Deutsche Telekom enters the world top 10

• Tesla leaves the top 10 and falls to 18th place

LONDON, Jan. 17, 2024 /PRNewswire/ -- Apple has achieved exceptional growth in brand value this year, increasing by $219 billion (74%) to $517 billion, regaining its title as the largest brand valuable in the world.

Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test. The 500 most valuable and strongest global brands in the world are included in the annual Brand Finance Global 500 2024 ranking.

Apple has achieved a notable increase in its brand value even as iPhone sales have largely stagnated, as its strategy of finding new markets, expanding its ecosystem and encouraging upgrades to higher-value iPhones has been highly effective. . Apple has maintained its position as the dominant player in the premium smartphone market, with a 71% share.

David Haigh, President and CEO of Brand Finance, highlighted:

"Apple has increased its brand value through strategic diversification and premiumization. According to our research, more than 50% of respondents recognized Apple as expensive, but worth the price, reinforcing the ability of the brand to demand a higher price.

NVIDIA (brand value increased 163% to $44.5 billion) became the fastest growing brand in the world.

NVIDIA, a key chip supplier in the AI ​​space, is perceived as highly innovative, while familiarity, consideration and recommendation levels increase year on year, according to research from Brand Finance.

Deutsche Telekom (brand value increased 17% to $73.3 billion) has claimed the title of world's most valuable telecommunications brand, overtaking Verizon (brand value increased 6% to $71.8 billion) of dollars). It ranks ninth globally and also leads as the most valuable European brand.

Tesla (brand value down 12% to $58.3 billion) dropped out of the top 10, falling to 18th place and BYD (brand value up 20% to $12.1 billion) has now overtaken Tesla to become the largest electric vehicle manufacturer in the world.

That said, despite BYD's higher production volume, Tesla's brand value is five times that of BYD. This highlights the enduring importance of brands as corporate assets, allowing Tesla to command a premium, support its company value, and potentially drive renewed growth.

View the full Brand Finance Global 500 2024 report here

You can find full details of the Brand Finance methodology here along with frequently asked questions.

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