Chinese internet giant Tencent is Asia’s most valuable brand, trumping China Mobile, the world’s largest mobile phone company by subscribers.
Tencent’s brand value rocketed 97 percent to US$53.62 billion from last year, the Hong Kong Economic Journal reported Thursday, citing a survey by research institute Millward Brown.
That drove Tencent seven notches to 14th place in the world.
China Mobile, Industrial and Commercial Bank of China and Chinese search engine Baidu took 15th, 17th and 25th places, respectively, the report said.
Millward Brown attributed Tencent’s robust growth in brand value to its investments in JD.com, the second largest internet shopping platform in the mainland, search engine Sogou.com and mobile phone taxi calling application Didi Dache.
Tencent is also in the mobile payment and internet finance business.
Globally, Google overtook Apple to become the world’s top brand for the first time in three years. Apple’s brand value slid 20 percent to US$148 billion to Google’s US$159 billion, up 40 percent.
IBM and Microsoft came in third and fourth, respectively.
Technology experts expect Alibaba, the Chinese e-commerce behemoth preparing for a US listing, to figure among the top 50 in the coming decade, the report said.
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