Apple is the top brand in the world, ending beverage giant Coca-Cola’s 13-year reign as No. 1 on the annual Best Global Brands list.
The iPhone maker’s value far surpassed that of Coca-Cola — $98.3 billion compared to the soft drink maker’s $79.2 billion, according to the study (PDF) released by New York-based branding and consultancy corporation Interbrand.
“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 No. 1,” says Interbrand Global CEO Jez Frampton in a press release.
“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.”
In 2000 — the first year Interbrand released the study — Apple ranked No. 36 and had a brand value of $6.6 billion. Apple’s brand value has increased almost 15 times in value since then.
“Apple’s meteoric rise in brand value can be attributed to the way it has created a seamless omnichannel experience for customers,” the study reads. “By keeping consumers at the center of everything it does, Apple is able to anticipate what they want next and break new ground in terms of both design and performance.”
Apple, which took the No. 2 place in 2012, is not the only technology company to surpass Coca-Cola. Google took second place on the 2013 global brand list, up from No. 4 in 2012, with a value of $93.3 billion, relegating the beverage firm to third place.
Other technology giants in the Top 10 include IBM in the No. 4 spot with a value of $78.8 billion, down from No. 3 in 2012; Microsoft, which placed fifth both years, is valued at $59.5 billion, Samsung rose one spot to place eighth with $39.6 billion, while Intel dropped one spot to sit in ninth with $37.2 billion.
Cisco sits in 13th place with a $29 billion value followed by Oracle in 18th place with $24 billion. Amazon took the 19th spot with a value of $23.6 billion, a 27 percent increase in brand value over last year.
Facebook, No. 52 on the list with a $7.7 billion value, was the biggest riser in 2013, shooting up to the No. 52 spot from 69th place in 2012 — a 43 percent increase in brand value.
Yahoo and Blackberry fell off this year’s list altogether, while Nokia, at No. 57, experienced a 65 percent drop in value to sit at $7.4 billion.
This year, the total value of all 100 Best Global Brands is $1.5 trillion — an 8.4 percent record increase over the total value of last year’s 100 Best Global Brands.