Apple has kept its number one spot in Brand Finance’s annual list of the world’s most valuable brands, but Samsung is closing in. 

Samsung has jumped from number six to number two position, with a brand value of $58.8bn (£38bn) compared to Apple’s $87.3bn (£56.4bn). 

Samsung’s brand value has shot up by 54% over the last year. Its Galaxy S3 smartphone reportedly became the biggest-selling mobile device in the world. More digital consumer products are in the pipeline, with rumours of a Samsung Galaxy S4 launch next month.

Apple had a rollercoaster year in 2012 – its enterprise value rocketed from US$350bn to US$600bn only to dip to US$400bn in the space of 12 months. 

Despite a raft of new product launches such as the new iPhone and iPad, Apple continued to lose ground to its South Korean rival. 

Samsung is the only non-US company in the top 10, knocking Google into third place. 

The net result for Apple’s brand value was a rise from $70 billion to $87 billion, but a slight weakening of its brand rating from AAA+ to AAA.

Only three UK brands appear in the survey (Vodafone, HSBC and Tesco) and all have fallen in the survey, most notable Tesco which fell from 24 to 41. 

‘Brand value’ differs from market value, and is based on factors such as customer loyalty and market share.

Brand Finance CEO David Haigh said: “Brand is one of many intangible assets which drive profitable growth. Technology, contractual, human capital and customer intangibles as well as general goodwill all drive overall corporate value.”

“Customer expectations of brands are much higher than ever as trust becomes a critical business issue in a time of increased economic uncertainty. To fulfil such expectations, brand owners must continue to innovate whilst at the same time deliver quality with value, choice with social responsibility and sustainability with growth.”

Posted by

Smarayda Christoforou