Vodafone is most valuable brand in UK

The firm is the sole British entry in a list of the world's top 10 cos after HSBC fell from eighth place.

Vodafone has been named as the most valuable brand in Britain.

According Brand Finance Global 500 report,the telecoms giant,worth about 18.9 billion pounds,has increased in value from last year by nearly 1 billion pounds.

The firm is the sole British entry in a list of the world’s top 10 companies after HSBC fell from eighth place to 11th,its value dropping from 17 pounds.

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In addition to its inclusion in the top 10,Vodafone is also considered the world”s most valuable telecoms brand.

“The Vodafone brand strength is the sum of everything we do. We are,therefore,very pleased to see this ranking of Vodafone as the UK’s most valuable brand and the most valuable telecoms brand in the world, the Scotsman quoted Morten Lundal,group chief commercial officer at the company,as saying.

“The use of data and Internet on the phone is going from ”lifestyle” to ”lifeline” and we aim to be our customers” preferred partner in that transition,” he added.

Vodafone’s presence in the top ten is testament to the UK’s ability to grow and nurture great brands despite a tough economic climate, said David Haigh,chief executive of Brand Finance.

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“From a global perspective,five of the top ten largest growers are technology-related companies,reinforcing the importance of embracing technological innovation to give a seamless,value-enhancing brand experience,” he added.