Apple still world’s most valuable brand reports Brand Finance
Apple has retained the title of the world’s most valuable brand in 2022. World-renowned brand directory, Brand Finance reported in its World 500 2022 report that Apple retained the top position “following a 35 percent increase to US$355.1 billion – the highest brand value ever recorded in the Brand Finance Global 500 ranking.”
Giving reasons for the tech giant’s retention of the No.1 position, rand Finance states: “Apple had a stellar 2021, highlighted by its achievement at the start of 2022 – being the first company to reach a US$3 trillion market valuation. The tech giant’s success historically lied in honing its core brand positioning, but its more recent growth can be attributed to the company’s recognition that its brand can be applied effectively to a much broader range of services.”
Though the iPhone still accounts for around half of the brand’s sales; Apple however gives more attention to its other suite of products. These products include a new generation of iPads, an overhaul to the iMac, and the introduction of AirTags. It also offers a range of services, from Apple Pay to Apple TV which has gone from strength to strength and becomes increasingly, important to the brand’s success.
Apple is also big on maintaining brand equity through being in tune with its customers. “Privacy and the environment are salient topics, and Apple bolstered its credentials on both fronts. This is evidenced by a greater transparency of the App Store’s privacy policy, reinforcing the trust customers have in the brand and the announcement that more of Apple’s manufacturing partners will be moving to 100% renewable energy, as the company aims to reach carbon neutrality by 2030.
It is therefore not surprising that Apple commands an amazing level of brand loyalty- it is a rand that is reputed for quality and innovation. Decades of hard work put into perfecting the brand have seen Apple become a cultural phenomenon, which allows it to not only compete but thrive in a huge number of markets. With rumours abounding of its foray into electric vehicles and virtual reality, it seems it is ready for a new leap, the report stated signed by David Haigh, Chairman & CEO
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