Apple overtakes Coca-Cola, named the world most valuable brand for the first time. Google took second place

Coke, which has become an icon of globalisation and consumer society, has been top of the list every year since it was first published in 2000.

According to a report released today, Apple has overtaken Coca-Cola to become the world's most valuable brand. Google came second in the list compiled by consultancy Interbrand, with Coca-Cola, IBM and Microsoft rounding out the top five.

Top 10:

1) Apple - $98.3bn

2) Google - $93.2bn

3) Coca-Cola - $79.2bn

4) IBM - $78.8bn

5) Microsoft - $59.5bn

6) GE - $46.9bn

7) McDonald's - $42.0bn

8) Samsung - $39.6bn

9) Intel - $37.3bn

10) Toyota - $35.3bn

Despite the death of Apple's visionary founder Steve Jobs in 2011, the firm's brand value has continued to rise, according to Interbrand, soaring 28 per cent in a year to reach $98.3billion.

Google's brand is worth $93.3billion - up 34 per cent on last year - with Coca-Cola worth $79.2billion.

When the Interbrand list debuted in 2000, Apple occupied 36th place with a brand value of $6.6billion - behind even the likes of Kodak.

But the introduction of the iPod, iPad and iPhone - which now accounts for one in 10 of all phones sold worldwide - has increased the value of its brand by more than 15 times.

The Interbrand CEO Jez Frampton, paying tribute  to Apple’s success said:

'Every so often, a company changes our lives - not just with its products, but with its ethos. This is why, following Coca-Cola’s 13-year run at the top of Best Global Brands, Apple now ranks No1.'

Not only does Apple have the world's best brand, it is also the most valuable company in the U.S., with a market capitalisation of more than $400billion.