BUSINESSNews

Samsung’s brand value hits $74.6 billion


Samsung Electronics has reaffirmed its position as a top-five brand in Interbrand’s Best Global Brands 2021.

According to the Best Global Brands list announced by the global consulting firm Interbrand, Samsung ranked fifth with a brand value of $74.6 billion, a 20% increase compared to last year. On the back of its strong financial performance, which has recovered to reach pre-pandemic levels, the company’s brand value surged by 20% this year, twice the average brand value growth rate among the top 100 brands in 2021.

Since entering the top five for the first time last year, Samsung has maintained its position for two consecutive years with its largest increase in brand value since 2013.

According to Interbrand, major factors that played a critical role in Samsung’s growth include: Its transition to a customer-centric management system, highlighted by the establishment of a new customer experience team dedicated to prioritizing customer experience and values, Its ongoing efforts for sustainable development, including various campaigns guided by its CSR vision, as well as company-wide initiatives that promote sustainability, such as the use of eco-packaging for TVs and the Galaxy Upcycling programme, The launches of innovative products including the Galaxy Z Foldable series, Neo QLEDs, and the Bespoke line-up of home appliances. Leading the development of advanced technologies such as artificial intelligence (AI), 5G, automotive, and robotics through consistent investment.

“It is very encouraging to see Samsung reach the top five in the world last year and then achieve enormous double-digit growth this year—our biggest leap in brand value since 2013,” said Samsung Electronics Vice President Central Africa Mr. Jung Hyun Park.

 “We promise to leverage our customer-centric management model to keep listening to our customers. This is how we will repay the massive support we have received from customers in Kenya, the East African region and around the globe.” he added.

Interbrand evaluates businesses’ brand value based on a comprehensive analysis of multiple factors including financial performance, brand influence on purchase, and brand competitiveness.

Samsung Electronics was also ranked No.1 by Forbes as the World’s Best Employers 2021 for the second consecutive year during a global announcement made on October 12th 2021. As a global organization with employees and businesses around the world, Samsung has, once again, been chosen as the number one employer.

Each year, Forbes surveys around 150,000 employees from 58 countries working for businesses with operations in multiple nations or regions, and this year asked respondents to rank their satisfaction with their employers’ COVID-19 responses and score their employers on image, economic footprint, talent development, gender equality and social responsibility.

Other brands that made the top 100 Interbrand list are Nike, Mercedes, Tesla, Uber, Zoom and many more. The global research firm has dubbed this decade the “Decade of Possibilities” and asked brands to continue innovating and growing their brands by understanding the needs of their customers and pacing them first.

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