(Yicai Global) May 24 -- Brand value is key to a company winning over a market and accumulating wealth through increased demand and purchasing power.
Chinese firms look to still have room for improvement in this area, after Forbes' latest World's Most Valuable Brand List included just one company from the second largest economy: Huawei Technologies Co., the biggest telecoms equipment maker in the world.
The manufacturer came in at number 88 on the list, valued at USD7.3 billion, a 9 percent rise from last year. The figure comes in at just a fraction of American tech giant Apple Inc. [NASDAQ:AAPL], which Forbes valued at USD170 billion. California-based Apple has sat atop of the list for seven consecutive years, with its brand value climbing 10 percent over the last year. Its brand value covers about 21 percent of its total market capitalization. Second place again went to Google, with a value of nearly USD102 billion.
After spending USD5 billion on advertising, Amazon Inc's [NASDAQ:AMZN] brand value rose the fastest on the list, shooting up 54 percent to USD54.1 billion and placing the Seattle-based e-commerce and cloud computing giant in sixth.
Every year, Forbes Magazine shortlists 200 global brands from around the world, and publishes a list of the 100 most valuable. This year, the list spanned 15 countries, dominated by the US with 56 brands included. Germany had 11, France had seven and Japan had six.