The world's most valuable brand list is out and once again the leading tech giants of the world have bagged the top two positions.
US tech major Google tops the list as the most valuable brand followed by arch-rival Apple. Google's brand value surged to $109 billion from $88 billion last year. Meanwhile Apple's lost out of its Numero Uno position to Google. Its brand value fell to $107 billion this year from $145.9 billion in 2016.
It is notable that Apple for the last five years held sway as the world's most valuable brand.
Tata Group moved down to 103rd position from 82nd last year in the Brand Finance Global 500 2017 report. The $100 billion conglomerate has been badly shaken by a bruising months-long fight between former Chairman Cyrus Mistry, ousted in October last year, and patriarch Ratan Tata.
Among other Indian brands, Airtel has improved its ranking to 190 from 242 last year, Life Insurance Corporation (LIC) stood at 222 from 283, and IT major Infosys ranked at 251 from 301 in 2016, the report said.
"Apple has struggled to maintain its technological advantage, with new iterations of the iPhone delivering diminishing returns, while the Chinese market is now crowded with local competitors.
Apple has been living on borrowed time for several years by exploiting its accumulated brand equity. This underlines one of the many benefits of a strong brand, but Apple has finally taken it too far," said David Haigh, CEO of Brand Finance.