Consultancy firm Brand Finance released its annual list of the most valuable brands in the world on Wednesday, and there’s a new name at the top of the pile.
Google (GOOGL), which came in second last year, overtook Apple (AAPL) to take the top spot. The search giant added a staggering $21 billion to its value over the past year, taking its total value to $109 billion. It last ranked as the most valuable brand in 2011.
Brand Finance calculates value as the amount “a company would be willing to pay to license its brand as if it did not own it.” It also takes future revenue attributable to a brand into account.
It wasn’t good news for all tech companies, though. Swedish telecommunications firm Ericsson (ERIC) lost 46 percent of its value, causing it to drop 204 places in the past year. Meanwhile, HP (HPQ) lost 60 percent of its brand value, the biggest percentage loss of any company on the list.
Amazon.com (AMZN) gained the most value over the past year, increasing $36 billion to $106 billion, good for the third most valuable brand in the world.
Despite grabbing the number two spot, Apple lost $38 billion in brand value, the largest net decrease of any company in the past year.
Companies from the United States grabbed 198 of the 500 spots, including eight of the top 10. China, Japan, France and the United Kingdom complete the top five.
You can check out the full list on the Brand Finance website.