Technology giant Apple has been named the world’s most valuable brand despite seeing iPhone sales fall this year.
Google secured second place and Coca-Cola came third according to a list of the top 100 brands compiled by Interbrand.
Apple’s brand value rose 5% to $178.119 billion (£139.683 billion) in 2016, while Google saw an 11% jump to $133.252 billion (£104.498 billion).
However, Apple reported in April that iPhone sales had fallen for the first time since the device was launched in 2007, dropping from 61 million to 51 million during the first three months of this year.
Technology companies remain a dominant force on the list, with eight in the top 20 alone, including Amazon, which saw its brand value jump by a third to $50.338 billion (£39.475 billion).
However, Facebook saw the biggest rise in brand value year-on-year, climbing 48% to $32.593 billion (£25.559 billion).
HSBC and Burberry were the only two British brands to make it into the top 100, coming 47th and 83rd respectively.
New entrants to the top 100 included electric car manufacturer Tesla and fashion house Dior.
The ranking is based the company’s financial performance, its influence over customers and the strength of the brand to command a higher price or secure earnings for the company.
