Google’s investments in wearable technology relegate Apple to number two.
Google has become the world’s most valuable brand, finally usurping Apple, which has held the top spot for the last three years.
According to Millward Brown’s BrandZ Top 100 Most Valuable Global Brands ranking, Apple’s brand value fell by 20% in the last 12 months to £88bn, giving the top spot to Google whose value increased by 40% to $159bn.
Peter Walshe, global brandZ director at Millward Brown, said: "Digital service brands such as Google, Facebook, Twitter, Tencent and LinkedIn are now more than just tools, they have become part of our lives.
"They offer new forms of communication that absorb people’s attention and imagination, while also helping them organise the rest of their lives at the same time. To gain more of our mind-space brands such as Google are making ambitious plays across existing category boundaries."
Google investments over the past year have no doubt helped the firm reach the top spot, with money being pumped into driverless cars, Google Glass, and Android partnerships. The company’s upcoming smartwatch project has also helped it secure value in 2014.
Facebook reached a brand value of £21m, while Samsung and Yahoo grew 21% and 44% respectively. Twitter was a new entry this year, reaching the 71st spot on the top 100 with a brand worth of around £8m.