Apple retained its position as the world’s most valuable electronics brand, with a 35% increase in brand value to US$355 billion.
Every year, Brand Finance tests 5,000 of the biggest brands and publishes nearly 100 reports, ranking brands across all industries and countries. The world’s 50 most valuable and strong electronics brands are included in an industry-specific ranking, the Brand Finance Electronics and Appliances 50 2022.
“Since the onset of the COVID-19 pandemic, electronics brands around the world have faced changing market conditions, and Apple has been at the forefront of innovation in electronics markets. which it operates,” said David Haigh, President and CEO of Brand Finance.
“With supply chain bottlenecks disrupting global logistics, premium brands are reaping strong returns from constrained supply levels.
In particular, Apple has benefited from a pandemic that has pushed consumers to invest more in physical objects and digital services, the two complementary arms of the Apple brand.
He says that since the pandemic, Apple’s brand value has increased to two and a half times its previous value and now holds unprecedented value globally.
In addition to being the strongest electronics and appliance brand, Apple is also the strongest brand in the rankings, with a brand strength index (BSI) of 88.9 out of 100. The brand has managed to combine innovation and marketing by complementing its high-end hardware devices. with a premium range of digital subscription services.
Historically, the tech giant’s success has been in focusing on its core brand positioning. Its more recent growth can be attributed to the company effectively applying its brand to a much wider range of premium services. The iPhone still accounts for about half of Apple’s sales. However, this year Apple has given more attention to its other suite of products with a new generation of iPad, a redesign of the iMac, and the introduction of AirTags. From Apple Pay to Apple TV, its range of services has also grown stronger and is becoming increasingly important to the brand’s success.
“Apple continues to innovate to meet changing customer demands as it looks to a post-COVID-19 future,” Haigh said. “Apple has achieved an exceptional level of brand loyalty through its quality and reputation in the market. Apple is an iconic player in the electronics industry, and the brand innovates in all of its vertical markets. It will enter the realm of virtual reality and autonomous cars in the years to come.”
Samsung (brand value up 4.5% to $89.2 billion) retained its position as the world’s second most valuable electronics and appliance brand. The South Korean conglomerate often tops global smartphone sales, with Apple leading in periods immediately after Apple launches new products. However, the Apple brand can be applied not only to the hardware it manufactures, but also to the entire Apple software ecosystem.
As a maker of smartphones that run the Google-dominated Android operating system, Samsung doesn’t have the same advantage. Samsung maintains operating systems for some of its other products, such as televisions, but these do not offer the same brand recognition as Android or iOS mobile phone operating systems. Therefore, Samsung faces a challenge to maintain strong brand equity when other companies control its software interface.
Huawei has seen a significant increase in its brand value, despite the pushback from some Western governments. The company ranks third among other electronics and appliance brands with a brand value of US$71.2 billion after growing 29% year-over-year. Huawei’s infrastructure and consumer businesses have been hit hard by sanctions in the UK, US and allied countries, but it has responded by sharply increasing investment in domestic tech companies and business. of research and development.
Huawei has seen growth in its wireless telecommunications business driven by aggressive 5G rollout in China and strong 5G rollouts in Europe, the Middle East and Africa. The brand is strengthening its software base by investing in operating systems such as HarmonyOS and EulerOS due to US sanctions restricting its access to the Android operating system.
Like Apple, which also controls its own software for its hardware, Huawei could have the opportunity to exercise greater control over the brand by more fully controlling the consumer experience. This comes at the expense of access to the Android ecosystem, but could provide an opportunity for brand differentiation over time.
Value-for-money consumer brands are among the fastest growing brands in the rankings as they cater to new post-COVID market segments. Value for money of consumer brands ASUS (brand value up 75% to $2.1 billion), OnePlus (brand value up 92% to $1.8 billion), and TCL- CSOT (brand value up 81% to $1.3 billion) ranks among the fastest. booming electronics brands.