Amazon now world’s biggest tech brand

by MTHULISI SIBANDA
JOHANNESBURG, (CAJ News) – AMAZON has become the world’s most valuable technology brand, with its value surging by 42 percent to US$150,8 billion.

This is according to the latest Brand Finance Tech 100 report made available on Wednesday.

Amazon has knocked Google off top spot to third while Apple retained its second spot although it faces a challenging future. Facebook is fourth and Microsoft fifth.

Google has recorded a relatively slow brand value growth of 10 percent to $120,9 billion.

Apple was up 37 percent to $146,3 billion.

The rankings reflected the tech brands booming with expansion beyond traditional domains.

Chinese brands surged in value, with Alibaba (7th), Tencent (8th) and Huawei (9th, above next-placed IBM) climbing Brand Finance Tech 100 ranking.

Alibaba meanwhile shows no sign of slowing as it plans to invest $15,2 billion towards its global logistics chain expansion.

Also growing quickly, Tencent’s WeChat app and gateway now has over 800 million users, as it has become essential for communication in China.

The phenomenal global rise by Huawei continues with its smartphone business now firmly in third place behind Apple and Samsung (6th).

The core networking business, which delivers the bulk of Huawei’s global revenue, is growing with the expectation of 5G services coming online soon.

Since 2012, Huawei has grown nearly 700 percent from US$4,8 billion to US$38 billion.

Apple faces a tricky period after failure to diversify and grown over-dependent on sales of its flagship iPhones, responsible for two thirds of revenue. Sales of iPhone X have fallen short of expectations.

The model is predicted to be discontinued later this year.

Brand Finance is the world’s leading brand valuation and strategy consultancy.
– CAJ News

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