Extraordinary economic conditions felt this year has caused a shakeup in the value of global brands
The Brand Finance plc. Global Intangible Financial Tracker League Table (GIFT), which normally releases global brand rankings in January, updated their list as of last month due to these conditions. Financial brands were the hardest hit, with banking brands losing about US$$25.9 billion (S$32.1 billion) of their brand value from January this year. HSBC has become the world's most valuable bank brand keeping a steady position at 10, while Bank of America saw its brand value fall by S$$5.3 billion. Technology brands flourished, with Apple, Microsoft, and Google taking over the top spots. Apple has increased its value by 33%, making it a more valuable brand than Microsoft for the first time. Samsung is another notable performer, increasing the value of its brand by 24 per cent to US$26.6 billion. This is due to a stronger hold on both the TV and smart phone markets. The automotive sector has also performed well in the last six months, with Japanese brand Toyota re-entering the top 10 with a value of US$28.8 billion.