New report from Brand Finance puts Middle Eastern telecoms brands amongst global leaders
LONDON, 4 March 2025 – stc and e& are now amongst the top ten most valuable Telecoms brands in the world, according to a new report from Brand Finance, the world's leading brand valuation consultancy. The two brands have overtaken China Telecom and Vodafone, which have fallen out of the top ten in favour of the two Middle Eastern Telecoms brands.
This year, stc achieves the significant milestone of becoming the ninth most valuable telecoms brand globally. With a 16% rise in brand value to USD16.1 billion, stc ranks as the third most valuable brand in the region and holds the title of the most valuable telecoms brand in the Middle East. This growth reflects the successful consolidation of its Masterbrand strategy, which has enabled an extension of the brand into new categories such as banking, cybersecurity and the development of B2B and IT offerings through strategic M&A initiatives.
With a brand strength index (BSI) score of 88.7/100 and an AAA brand rating, marking a slight strengthening of the brand since last year, stc has also secured a spot among the top three strongest telecom brands globally.
e&, the world’s fastest growing brand this year, posted an eight-fold increase in its brand value to USD15.3 billion. This achievement places e& among the top ten most valuable telecoms brands globally. This is the final stage of a 3-year group rebrand, staged to transition brand equity from Etisalat to e& as a platform for international growth. The like for like brand value growth is 13% versus the combined value of the brands in 2024.
Hatem Dowidar, Group CEO of e&, has retained his position as the top-ranked telecoms brand guardian for the third year running in the Brand Guardianship Index, and ranks among the top brand guardians in the Middle East. This recognition underscores his exceptional leadership in steering e& through a transformative rebranding journey, evolving it from a traditional telecom operator into a global technology and digital transformation organisation.[RM1]
Andrew Campbell, Managing Director, Brand Finance Middle East, commented:
"Brand value is more than just a number—it’s the story of visionary strategy and relentless innovation. The meteoric rise of stc and e& into the global top ten is a masterclass in how bold reinvention can redefine market leadership."
Middle Eastern brands among world leaders
Middle Eastern brands du, Mobily, Zain, and OmanTel, were among the big winners in the 2025 global ranking, all recording notable increases in brand value and strength. By capitalising on emerging technologies, strengthening their brand identities, and delivering exceptional customer experiences, these leading telecoms brands underscore the vitality and competitive edge of the Middle East’s telecoms landscape.
In the past year, du has reached a new milestone, surpassing a brand value of USD3 billion. This 23% growth has made it the fastest riser in brand value rank, climbing from 56th to 43rd position. du has bolstered its market position through strategic investments in upgrades, customer-focused initiatives, and digital transformation. The introduction of du Tech and du Infra sub-brands has solidified du's role as a digital enabler, offering cutting-edge technology solutions and vital infrastructure for businesses and government entities. These efforts have earned du an AAA- brand strength rating and a brand strength index score of 83.2/100, securing its place among the world’s top 20 strongest telecoms brands.
Mobily’s (brand value up 26% to USD2.7 billion) notable brand value increase underscores its position as a leader in Saudia Arabia’s digital transformation, driven by strategic investments in 5G, AI, cloud computing, and IoT solutions. The brand’s USD905 million investment in data centres and submarine cables has further enhanced its market leadership, attracting a growing base of tech-savvy customers.
Zain (brand value up 15% to USD3.5 billion) has achieved a remarkable milestone, entering the top 25 strongest and top 40 most valuable telecoms brands globally. This success reflects decades of investment in innovation, customer experience, and sustainability, alongside strategic initiatives in 5G, Fintech, and digital transformation. [LF4] Notably, Zain's 4WARD strategy accelerates its shift from a telecom provider to a purpose-driven TechCo, expanding its influence, creating societal impact, and driving its brand value to new heights.
Global leaders
Deutsche Telekom holds its position as the most valuable telecoms brand globally, with its brand value rising 16% to USD85.3 billion – more than USD13 billion greater than Verizon, the world’s second most valuable telecoms brand at USD72.3 billion. Swisscom has risen from third place to become the world’s strongest telecoms brand in 2025, with a brand strength index (BSI) score of 89.8/200. This achievement reflects its strong performance across key metrics, including perfect scores for familiarity, reputation, and consideration.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
