Here are your Apple rumors and AAPL news items for today:
Title Retained: Apple (AAPL) remains the most valuable brand in the world, CNET notes. Millward Brown Optimor (MBO) has released its BrandZ report for 2013, listing Apple as the top global brand with an estimated value of $185 billion. The value of Apple’s brand increased just 1% compared to last year. An MBO official noted that Apple had held on to the top spot despite the sharp decline in its share price and rising competition in the mobile device business. Rival Google (GOOG) was ranked as the world’s second most valuable brand with an estimated value of $113 billion, up 5% from last year. IBM (IBM) came in third, while Microsoft (MSFT) was ranked seventh. Despite a 51% increase in its value compared to last year, South Korean electronics manufacturer Samsung’s brand was ranked 30th, with an estimated ably of $21 billion.
Profitable: Apple generated $57.60 in revenue for every visitor to its Apple retail stores last quarter, AppleInsider notes. The number of visitors to Apple Stores grew 7% last quarter, compared to the same period in the prior year, according to an analyst at Asymco. During the quarter, Apple hit a new company record for revenue-per-visitor. Apple produces an average of $12 in profit for each person who visits its retail locations. That means the company’s stores earn double the amount, per square foot, that Tiffany & Co. (TIF) stores do. On average, Apple Stores saw 250,000 visitors last month and generated $13.1 million in sales. The company has 402 stores worldwide and plans to add 30 new stores this year.
Price Cutting: In an effort to increase its market share in India, Apple is offering phone trade-ins and discounts, ZDNet notes. Students who upgrade old cellphones for a new iPhone can get a $144 discount off the cost of a new iPhone. Non-students can qualify for a $139 trade-in discount. American Express (AXP) customers in India can also get a $111 refund it they use their cards to purchase an iPhone 4, iPhone 4S or iPhone 5 until June 10. Apple’s high equipment prices and a lack of distribution deals have hampered the company’s sales in India, largely ceding the market to rivals. However, Apple has recently stepped up its efforts in India. The company has been rumored to be working on a low-cost iPhone designed to compete in emerging markets like India and China.
For more about the company, check out our previous Apple Rumors stories.