Microsoft has been ranked the second most valuable corporate brand in the world, Beta Wired reports, just trailing behind rival company Apple.
Although Microsoft has significantly boosted its popularity in recent years with the release of tablets and other devices rivaling those produced by Apple, it has yet to be able to surpass its Cupertino-based adversary.
Microsoft replaced energy company Exxon's second place position on the most valuable brands list--the latter was given a number-two spot just last month. Analysts speculate Microsoft's rise in popularity may also be attributed to its increase in share prices, reaching a 14-year high of $50.04 before reaching $49.81, Beta Wired also reports.
Recently, Microsoft announced that it would be offering free mobile versions of its Office suite software to consumers with Google and Apple-based mobile devices. This move was largely seen as an attempt to popularize its own brand among Apple device users.
"If you read through all the licensing terms you realize this is not for businesses," Rob Sanfilippo, an analyst with research firm Directions on Microsoft, said, according to the Seattle Times.
"Business is where Microsoft makes most of its money."
Apple is expected to move forward with its Apple Pay program, allowing users to use their smartphones for digital payment processes.
