Aggregate value of top 20 brands in Taiwan up 5% in 2020
Taipei, Nov. 21 (CNA) The aggregate value of the top 20 brands in Taiwan rose about 5 percent from a year earlier in 2020, defying the economic impact resulting from the COVID-19 pandemic, according to the Ministry of Economic Affairs (MOEA).
The MOEA cited the 2020 Best Taiwan Global Brands survey as saying the increase showed the resilience of the local business sector, in particular tech companies, which benefited from rising demand for emerging technologies such as 5G applications, and the popularity of remote work and online learning.
In addition, the urgency to improve information security amid trade tensions between the United States and China also boosted demand for Taiwan's tech products, the MOEA said.
In 2020, the aggregate value of the 20 largest brands in Taiwan totaled US$10.066 billion, up 5 percent from 2019. It was the first time the value stood above the US$10 billion mark since 2013, the MOEA said.
Since 2003, the ministry has announced the annual top 20 Taiwanese brands by value and this year it again commissioned U.K.-based brand consultancy firm Interband to conduct the 2019 Best Taiwan Global Brands survey.
Taiwan's rankings are based on the same standards the firm uses to assess big foreign brands and such an approach is expected to help Taiwanese brands adapt to international standards, the ministry said.
In terms of the highest ranked Taiwanese companies, Trend Micro Inc., a global leader in information security, took the top post in the 2020 rankings with a brand value of US$1.637 billion, up 7 percent from a year earlier.
The company ousted PC vendor Asustek Computer Inc. from the top spot, jumping up one notch from a year earlier. The Taiwanese computer maker saw its brand value fall 2 percent from 2019 to US$1.524 billion in 2020, the survey showed.
Want Want Holdings Ltd., a food conglomerate, came in third, unchanged from a year earlier, as its brand value rose 7 percent to US$1.001 billion.
It was followed by industrial computer maker Advantech Co. (US$626 million, up 13 percent), and bicycle maker Giant Manufacturing Co. (US$562 million, up 17 percent).
CTCB Financial Holding Co., meanwhile, ranked as the sixth largest brand in Taiwan with a value of NT$549 million in 2020, down 9 percent from a year earlier.
It was followed by Cathay Financial Holding Co. (US$513 million, up 15 percent), PC brand Acer Inc. (US$422 million, down 1 percent), integrated circuit designer MediaTek Inc. (US$418 million, up 10 percent), and bicycle maker Merida Industry Co. (US$402 million, up 14 percent).
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