After 3 years dominating the #1 spot in BrandZ’s “Top 100 Most Valuable Global Brands” rankings, the king has just been dethroned. According to their 2014 rankings — published today — Google is now the top dog after growing a whopping 40% from last year and carrying a brand value of $159 billion. Apple? Well, they’re still doing quite well for themselves occupying the #2 spot and declining 20% to $148 billion.
According to Millward Brown Optimor VP Oscar Yuan, it’s Apple’s lack of innovation and ground breaking new products that has lead to their decline, creating products that are merely evolutionary and no longer revolutionary. As Apple stagnates, Google on the other hand — with their Google X Labs ventures — is constantly moving forward. Look no further than ground breaking new products like Google Glass, Project Ara, self driving cars, and their WiFi balloons — is there any question how, or why Google took over Apple’s spot?
It’s all these things combined that helped Google climb the ranks of BrandZ’s latest report. We’re sure this merely a shadow of things to come. Apple better stop counting their billions, get out of the courtroom and back to creating the products that put them on the map. Question is without Steve, can they do it?
You can check out BrandZ’s infograph here.