BrandZ recently released their annual ranking of the world’s most valuable brands.
The leaderboard is typically dominated by American companies with global reach, but Shenzhen-based tech giant Tencent has broken the ranks. This Chinese firm made it to the #8 on the list. In a recent CNNTech article, Alanna Petroff describes the most valuable brands. Here are a few of the companies in the top spots:
It’s no surprise that Google is at the top of this list. The company has maintained the title of most valuable brand in the world for 7 out of the past 11 years. Its brand value increased by 7% from 2016, making it a whopping $245 billion. What started as a simple search engine is now an all-encompassing lifestyle brand associated with research, self-driving cars, and online services.
Apple is valued at $235 billion, up 3% from last year. Apple previously held the #1 spot in 2015. According to Doreen Wang, Global Head of BrandZ, notes that Apple’s “innovation speed over the last year is not perceived to be as fast as Google or Amazon.”
At $143 billion, a 5% increase from last year, Microsoft holds the #3 slot for the third year in a row. The Microsoft Cloud may be the key to its success, generating nearly a third of the company’s revenue and almost 40% of operating profits. Shares have increased by roughly 16% since the beginning of the year.
Tencent is taking over China with WeChat, a messaging platform that can be used for everything from texting to booking reservations. The increased used of WeChat has helped the company secure its spot in the top 10. The only other Chinese company to make the list was China Mobile in 2013.