Emir BardakçıOn October 15, 2024, Interbrand released its “2024 Global Best Brands Ranking,” in which Xiaomi ranked 87th position, continuing to represent the rise of China’s power in the world. Huawei, at 93rd place, was the only other Chinese brand on the list. Xiaomi’s brand value surged 10% over the last year, reassuring its standing among the main technology innovators in the world.
The Rise of Xiaomi’s Influence in Global Brands
Xiaomi’s ranking in the listing pinpoints the success of the company in spreading its global presence. From smartphones to smart homes, a variety of innovative products has won consumer hearts with their state-of-the-art technology at very competitive prices. In 2024, Xiaomi’s brand value reached USD 8 billion, marking a 10% annual growth rate. This again underlines the ability of the company to maintain momentum in fierce global competition.
Continuous development, launch of products attracting wide audiences, and expansion into new product categories have all put together contributed to the growing recognition of Xiaomi. The technology-driven approach at Xiaomi combined with the ability to offer quality and affordable devices helped the brand solidify its standing as a consumer favorite worldwide.
Xiaomi and Huawei: China’s Powerful Players in Global Brands
Worth noting is that Xiaomi and Huawei were the only two Chinese brands to feature in the top 100 of Interbrand’s ranking this year. While Xiaomi was ranked 87th, Huawei, for its part, was ranked 93rd with a 4% growth in brand value. Both firms are increasingly infiltrating the international market, reflecting China’s increasingly important position in global technology and innovation.
The Global Top 10 Brands 2024 But right at the top of Interbrand’s 2024 Best Global Brands Ranking is Apple,Entrenched in the number one spot now for 12 consecutive years at a brand value of USD 488.9 billion. The rest of the top 10 includes other global giants: Microsoft, Amazon, Google, and Samsung-a continued reflection of technology companies which shape global brand value.
Top 10 Brands
- Apple – $488.9 billion (-3%)
- Microsoft – USD 352.5 billion (+11%)
- Amazon – USD 298.1 billion (+8%)
- Google USD 291.3 billion, +12%
- Samsung Electronics – USD 100.8 billion – (+10%)
- Toyota – $72.8 billion (+13%)
- Coca-Cola – $61.2 billion (+5%)
- Mercedes-Benz – 58.9 billion dollars (-4%)
- McDonald’s – USD 53 billion (+4%)
- BMW – US$52 billion (+2%)
The legacy of ranking Global Best Brands
For the past 25 years, the Interbrand Global Best Brands Ranking has been continuously running. Started in 2000, this list went through an entrance and exit of 185 brands, while only 35 brands consistently stayed within the top 100. Among those, only two-Microsoft and Coca-Cola were always in the top 10 every year.
It bases this list on a company’s global presence, wherein at least 30% of sales derive from a different country. Interbrand rates such aspects as financial strength and development potential to give value to a brand in monetary value.
Xiaomi’s rise in the Interbrand 2024 Global Best Brands Ranking reflects the ever-increasing influence globally with regards to innovative, consumer-oriented product delivery. Moreover, with a 10% increase in brand value, focused on continued development in international expansion, it would be well-positioned in further strengthening its role as a major player in the global technology industry. While Xiaomi continues to innovate across its wide array of products, from smartphones to smart home devices and electric vehicles, it is sure to rise even higher in the next sets of global brand rankings.
