International consumer electronics giant Apple has beaten search engine Google to the top spot as the most valuable global brand, according to a key study published by Millward Brown.
Apple, which produced products including the iPad, iPod and iPhone, moved up from third place in 2010 to the top position after its brand value grew year-on-year from $83bn to $153bn, according to the study.
The value of Apple’s brand has increased by 84 percent over the last 12 months, surpassing other brands such as Coca-Cola, Microsoft, IBM and McDonald’s, said the agency.
The Google brand, which held the top spot for four consecutive years, slipped two percent to $111.4bn.
Nigel Hollis, chief global analyst at Millward Brown, said: “Apple and Google have different business models, with Google focused on free services and open systems, while Apple eschews the open model in favor of what it calls the integrated model.”