Samsung Electronics Co dislodges Toyota Motor Corporation as the top brand in Asia, a new global ranking released by a US-based consultancy firm reveals. Only Samsung and Toyota made it to the top 10 this year.
Interbrand on Monday released the Best Global Brands 2017 list, revealing the top 100 companies from around the world. South Korean tech giant Samsung topped the list among Asian companies for the first time, securing the 6th spot which is a notch higher from 2016.
Meanwhile, Japanese automobile company Toyota places 7th. Of the top 100 most valuable companies, 11 hail from Asia. However, only Samsung and Toyota secured their place in the top 10.
"Samsung has made it a policy of strengthening its brand in the past 10 years," says Masahito Namiki, Interbrand Japan's chief executive. "Despite the turmoil at the top, this strategy has helped Samsung limit the impact of its brand image."
The first five most valuable companies come from the US, led by Apple on the top spot followed by Google, Microsoft, Coca-Cola and Amazon. Apple and Google hold the first and second spots for five years in a row. Rounding up the top 10 are Facebook, Mercedes-Benz and IBM.
Newcomers this year include Netflix, Salesforce and Ferrari.
In terms of industry, automotive business tops the list with 16 companies, followed by technology, financial services and fast-growing consumer goods.
Interbrand's Best Global Brands report is now in its 18th year.