In 2024, Apple’s brand value amounted to approximately 1.02 trillion U.S. dollars. This represented a roughly 15 percent increase from the 880 billion dollars seen in 2023. The U.S. tech company retained its crown as the most valuable brand worldwide and is the first brand in the history of the ranking to record a brand value of over one trillion dollars.
Apple’s brand loyalty and global revenue
Apple stands out for its high-design products and strong brand loyalty. When the company releases a new product, consumers often queue in front of the tech firm stores, despite the device’s price or if other companies offer a similar product. Apple’s annual financial results are a mirror of its growing success. The company's global revenue stood at 383 billion dollars in the fiscal year 2023.
Apple’s smartphone business
The development process of Apple's smartphone started in 2004, and the first-generation iPhone was introduced in 2007. In the course of time, Apple became one of the biggest global smartphone manufacturers. In the first quarter of 2024,iPhone sales accounted for more than half of Apple's revenue. During the same quarter, Apple held 17.3 percent of the global smartphone market, ranked second behind its biggest competitor, South Korean multinational manufacturing conglomerate Samsung.
