Samsung Electronics ranked eighth in top 50 best global brands , apple #1

Apple overtook Coca Cola for the first time to grab the coveted position of the best global brand. Consultancy firm Interbrand released its annual list of the top 100 global brands on Monday, putting Apple's brand value at US$98.3 billion.

The list has come out since 2000.

Second was Google at $93.3 billion, while Coca Cola slid to No. 3 at $79.2 billion after 13 years at the top.

The shift mirrors a trend away from traditional industries toward IT.

Six of the top 10 brands were IT companies. Samsung Electronics ranked eighth at $39.6 billion, up from ninth last year, and was the highest-ranking Korean company on the list.

But carmaker Hyundai also jumped 53rd to 43rd, with its brand value fared well. Hyundai's brand value up 20.5 percent at $9 billion. Affiliate Kia saw its brand value rise 15 percent to $4.8 billion to rank 83rd, up four notches from 2012.