A certain decline in the development of technology reduces the cost of the world’s most expensive brands. Moreover, this reduction reaches tens of billions of dollars. According to a recent report by leading consulting company Brand Finance, Apple has lost almost $58 billion and is not currently the most valuable brand in the world. Its place was taken by Amazon, which again topped the ranking of the world’s most valuable brands after a short break, even though its value fell by 15% (from 350.3 to 299.3 billion dollars).
The value of Apple decreased by 16% (from 355.1 to 297.5 billion dollars). Experts believe that this is due to a drop in projected revenue due to problems in the supply chain of products and restrictions on the labor market. As for Amazon, the reason here lies in the sharper assessment of consumers in the post-pandemic period, which led to a decrease in the company’s rating to AAA. A study by Brand Finance found that customer service attitudes to Amazon have plummeted, delivery times have increased, and users are less likely to recommend the company to others.
There are 48 tech brands in the ranking, two fewer than in 2022. And many of them lost value, including Samsung (-7%, $99.7 billion), Alibaba (-56%, $10 billion), Facebook (-42%, $59 billion), WeChat (-19%, $50.2 billion). Others, on the contrary, rose in price: Tesla (+44%, $66.2 billion) and BYD (+57%, $10.1 billion). This is because the demand for electric vehicles continues to grow due to the broader transition to a low-carbon economy. In addition, Tesla and BYD are now the fastest growing brands in the world.
Source: Trash Box
Charles Grill is a tech-savvy writer with over 3 years of experience in the field. He writes on a variety of technology-related topics and has a strong focus on the latest advancements in the industry. He is connected with several online news websites and is currently contributing to a technology-focused platform.
