Amazon has broken the $200 billion brand value mark, according to the latest Brand Finance Global 500 report, launched at the World Economic Forum in Davos.
Amazon’s value has reached $220.8 billion, over $60 billion more than Google and $80 billion more than Apple, whose value fell to $140.5 billion.
Amazon’s growth is said to stem from expansions into Cloud computing, AI, consumer electronics, digital streaming and logistics, as well as other industries in the near future.
In the telecoms sector, four out of five brands saw their value decline this year, “as OTT messaging apps like WhatsApp are impacting voice and SMS revenue,” said the report.
The 5G space is inviting competition among telcos, with Huawei’s expansion into markets traditionally covered by Western providers counting it among the world’s top 10 most valuable brands.
Brand Finance CEO David Haigh said: “It is not surprising that a number of telco brands have placed bets on new opportunities from video content rights to Internet of Things ventures.
“Focus on extracting as much value as possible from the declining segments cannot sustain growth in the long term, as the consumption of telecommunications has changed for good.
“AT&T is the perfect example of how to fight back against the shrinking of the traditional market as they lead the charge in 5G – an area ripe for expansion.”