Apple Inc has been named the world’s most valuable brand by Interbrand, knocking Coca-Cola from the top spot for the first time in 13 years.
Interbrand grounds its calculations on a combination of financial performance, consumer influence and what degree of freedom the brand gives its company in terms of setting prices for its products.
When the market research company first started its annual assessment in 2000, Apple was ranked 36th and Coca-Cola held the top position until this year.
In the 2013 rankings, half of the top 10 brands were tech companies. Leader Apple had an assessed value of $98.3bn. Google took the number-two slot, also beating Coca-Cola, with a value of $93.3bn – a comfortable lead on the beverage vendor’s $79.2bn.
"Every so often, a company changes our lives, not just with its products, but with its ethos. This is why...Apple now ranks number one," said Jez Frampton, CEO, Interbrand.
The report did note that the key to Apple’s retention of its position was finding a way to shoulder into the lucrative Chinese market, a challenge that many analysts believe the Cupertino-based iPhone maker is not equipped to meet. The company’s iPhone 5C model was supposed to represent a budget alternative that would appeal emerging-market consumers, but the $730 price tag in China was widely considered too steep to allow Apple to gain ground on its rivals.