Apple now world’s most valuable brand name

Apple has already become the most valuable brand on the planet, thanks to its breakthrough into the corporate world, according to a new report from an international consulting firm.

The report, from U.k.-based Brand Finance, pegs the brand value of the Cupertino, Calif. tech giant at $70.6 billion (U.S.). That rise moved Apple from eighth in the world to first in just a single year, as it leapfrogged past last year’s No. 1 Google (which is now valued at $47.5 billion). The report was released just as Apple is poised to launch the latest version of its ipad tablet computer.

“I’ve never seen this kind of move before,” said Brand Finance CEO David Haigh.

The biggest reason for the shift has been Apple’s rapidly-accelerating acceptance in corporate boardrooms and government offices, says Haigh.

“When they first started, you saw their products in artists’ studios. You didn’t see them in corporate offices. Now, they’re being accepted in the corporate world, and that’s made Apple a much more valuable as a brand,” said Haigh.

Apple’s gain has, largely speaking, been Research In Motion’s loss, according to Xander Bird, Brand Finance’s director of valuations.

“A lot of Apple’s growth has been at RIM’S expense,” said Bird, who says he’s personally a heavy-duty BlackBerry user. In a recent ranking of cellphone brands, Apple’s iphone was valued at $27.4 billion, while Blackberry was valued at $3.0 billion. That’s a drop from last year’s $3.6 billion value for Blackberry, Bird said.