Recognition is everything. And that means Google and Apple are kings. Scott Budman explains.
A brand consulting company has named Apple as the most valuable brand in the world, according to its annual report.
The Best Global Brands report from Interbrand, a branch of Omnicon Group, named Apple as No. 1, while the previous No. 1, Coca-Cola, has fallen to No. 3. Last year Apple held the No. 2 spot. It's the first time since 2000 that the soft drink company hasn't been No. 1, according to the New York Times.
So why Apple? Jez Frampton, global chief executive at Interbrand said that it was only a "matter of time" with its $98.3 billion brand, which rose 28 percent from last year. Coca-Cola only had a 2 percent rise to $79.2 billion. Also add that Apple is in the tech sector, a hot industry, and Coca-Cola didn't have much of a chance.
That may reflect why Google rose from fourth place to second, fourth place went to IBM, and fifth place to Microsoft. Samsung was No. 8, while Intel placed 9th.
Interbrand lists its methodology for the ranking of companies as the following: