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Value of Taiwan's top 25 brands up 5%; Asustek remains No. 1

12/02/2023 08:38 PM
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People are seen in Taipei's Xinyi shopping district in this file photo. CNA file photo
People are seen in Taipei's Xinyi shopping district in this file photo. CNA file photo

Taipei, Dec. 2 (CNA) The combined brand value of Taiwan's 25 most valuable brands rose 5 percent in 2023, with PC brand Asustek Computer Inc. retaining the No. 1 title, despite global demand weakness, according to the Ministry of Economic Affairs (MOEA).

The ministry, citing the 2023 Best Taiwan Global Brands survey released by the MOEA's Administration of Industrial Development, said the aggregate brand value of Taiwan's 25 largest brands totaled US$13.84 billion in 2023, a 5 percent rise from 2022 and marking the fourth consecutive year of the value surpassing the US$10 billion mark.

The MOEA said although the world economy faced headwinds, which impacted demand, these export-oriented Taiwanese brands had stayed resilient.

The MOEA has announced the annual top 20 Taiwanese brands by value since 2003, with the number of brands included rising to 25 in 2020. This year, the ministry continued to commission the Taiwan Institute of Economic Research and the U.K.-based brand consultancy firm Interbrand to conduct the brand survey.

Due to Taiwanese brand rankings being based on the same standards used by Interbrand to assess international brands, this approach is expected to help Taiwanese brands adapt to international standards, according to the MOEA.

The MOEA said the 2023 survey included the phrase: "Redefine: Non-Stop Evolving" to demonstrate how these brands had redefined themselves to adapt to the fast-changing global market, adding that many had employed emerging technologies, such as artificial intelligence development.

Asustek, the No. 1 brand, saw its brand value rise 2 percent from a year earlier to about US$2.201 billion, marking the 10th straight year for the PC brand to be included in the list.

Trend Micro Inc., a leading global information security solution provider, took second place with its brand value rising 5 percent from a year earlier to US$2.182 billion, ahead of smartphone IC designer MediaTek Inc. (US$1.096 billion, up 33 percent), food conglomerate Want Want Holdings Ltd. (US$1.091 billion, down 6 percent), and industrial computer supplier Advantech Co. (US$881 million, up 13 percent).

Bicycle brand Giant Group came in sixth after its brand value rose 6 percent from a year earlier to US$790 million, followed by Acer Inc., another PC brand, (US$600 million, zero percent), Cathay Financial Holding Co. (US$592 million, down 1 percent), CTBC Financial Holding Co. (US$556 million, up 4 percent), and power management solution provider Delta Electronics Inc. (US$544 million, up 28 percent).

According to the survey, MediaTek replaced Want Want to become the No. 3 brand in Taiwan, and Delta Electronics rose two places to take 10th place this year.

The top 10 brands in Taiwan had combined brand value worth of more than US$10 billion, the survey found.

The MOEA said MediaTek saw its brand value soaring 33 percent in 2023, the highest growth among the top 25 brands in Taiwan, as the IC designer had begun to upgrade its technologies and forge closer ties with its clients around the world.

Similar to MediaTek, Eink Holdings Inc., an electronics paper developer, enjoyed a 29 percent year-on-year increase in brand value hitting US$101 million in 2022 to take the 21st place, up three places from a year earlier, according to the survey.

Regarding Advantech, Delta Electronics and Eink, all of which posted a double-digit increase in brand value, the MOEA said the three benefited from their effort to develop the Artificial Intelligence of Things (AIoT) and 5G applications, the MOEA said.

In addition, CTCI Group, an engineering, procurement and construction (EPC) services provider, made its presence on the top 25 list this year, coming 22nd, after the company saw its brand value total US$95 million.

The MOEA said CTCI entered the top 25 as the company began switching to green engineering technologies to strengthen the trust of its clients.

(By Liu Chien-ling and Frances Huang)

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