Apple Takes Top Brand Title From Coca-Cola
NEW YORK (TheStreet) -- Apple
The iPhone and iPad maker, which held the No. 2 position in last year's report, ousted the soft drinks giant from the top spot. Interbrand estimated Apple's brand value at $98.316 billion, an increase of 28% from the prior year's report. Brand value measures the company's financial performance, its role in influencing consumers and the brand's ability to command a premium price or secure earnings.
"Every so often, a company changes our lives -- not just with its products, but with its ethos. This is why, following Coca-Cola's 13-year run at the top of Best Global Brands, Apple now ranks #1," said Jez Frampton, Interbrand's global CEO, in a statement. "Tim Cook has assembled a solid leadership team and has kept Steve Jobs' vision intact -- a vision that has allowed Apple to deliver on its promise of innovation time and time again."
Coca-Cola took third place in this year's report, followed by IBM
Last week Apple also topped Boston Consulting Group's list of the most innovative companies for the eighth year in a row.
Shares of Apple, which recently launched its iPhone 5s and 5c, dipped 0.93% to $478.24 before market open on Monday.
--Written by James Rogers in New York.
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