Indian telecom market leader Reliance Jio becomes the world’s 5th strongest brand with a BSI score of 91.7 out of 100 and the elite AAA+ brand strength rating. With this, the Jio brand is now ahead of Apple, Amazon, Disney, Tencent, Alibaba, Nike, etc.
Jio has entered the ranking for the first time and claimed the fifth position with a BSI score of 91.7 out of 100 and the elite AAA+ brand strength rating, the firm said in its report.
It has scored highest in all metrics – consideration conversion, reputation, recommendation, word of mouth, innovation, customer service, and value for money – compared to its telecom competitors in India.
The brand has no major weaknesses within the sector, and unlike other telecoms brands globally, Jio has shown that it has broken the mold, and enjoys genuine affection from consumers.
Despite only being founded in 2016, Jio has quickly become the largest mobile network operator in India and the third-largest mobile network operator in the world, with almost 400 million subscribers.
Brand Finance’s word on Reliance Jio
“Renowned for its incredibly affordable plans, Jio took India by storm through offering 4G to millions of users for free, simultaneously transforming how Indians consume the internet – known as the ‘Jio effect’,” said Brand Finance, the world’s leading brand valuation consultancy.
It was Mukesh Ambani’s re-entry into the telecom business.
Jio is the fastest-growing brand in the ranking in the telecom sector in terms of brand value, bucking the negative trend across the industry, with a 50% increase to US$4.8 billion, it said.
The assessment of stakeholder equity incorporates original market research data from over 50,000 respondents in nearly 30 countries and across more than 20 sectors.
Brand Finance said brand strengths were determined through metrics of marketing investment, stakeholder equity, and business performance.
According to these criteria, the Chinese mobile app WeChat usurped Ferrari to become the world’s strongest band. Russian bank Sber is placed third and Coca-Cola fourth.
Meanwhile, the world’s most valuable telecom brand, Verizon (up 8 percent to USD 68.9 billion), has also recorded a healthy brand value growth, re-entering the top 10 for brand value following its absence in 2020.
The strongest brand adjudged by the Brand Finance survey is WeChat with a Brand Strength Index (BSI) score of 95.4 out of 100.
The Chinese mobile app is one of merely 11 brands in the ranking to have been awarded the elite AAA+ brand strength rating, it said.
The dominance of the brand across the nation is evident from the results from Brand Finance’s original market research.