Apple heads the world's most valuable brands of 2017 at $170 billion

Apple earned 92% of the profits in smartphone category and racked up a cash hoard of $257 billion

Brand value is the ultimate currency craved by companies. A valuable brand spurs demand and creates pricing power. Apple sold 78 million units of iPhone in the fourth quarter of 2016. The average selling price was $695. Pricing for chief competitor Samsung was more than $500 less, according to research from Canaccord Genuity. The result: Apple earned 92% of the profits in the smartphone category and has racked up a cash hoard of $257 billion on its balance sheet. Here is a look at the top companies on the list:

1) Apple

$170 bn brand value 

10% 1-yr change 

$1.8bn ad spending

2)