Samsung Electronics was recognized by Interbrand, a global brand consultancy, as a “Global Top 5” brand for the fourth year in a row. Interbrand releases its list of “Best Global Brands” each year, and on this year’s list, it was revealed that Samsung’s brand value reached $91.4 billion and grew by 4% year-on-year.
Samsung’s brand value increased across all business areas in 2023 despite sluggish demand in the global IT industry. According to Interbrand, Samsung Electronics’ evaluation was positively influenced by the following:
· Consistent company-wide improvement of the customer experience based on the “One Samsung” strategy.
· The increased level of connectivity and enhanced gaming experiences through the company’s wide-ranging product portfolio and SmartThings
· The company’s role as a leader in future innovative technologies such as 6G, artificial intelligence (AI), automotive, augmented reality (AR) and virtual reality (VR).
· Consistent actions to strengthen ESG leadership through eco-conscious activities across all product lines.
“Thanks to the support of our customers around the world, Samsung Electronics’ brand value has continued to grow steadily, despite an overall challenging business environment,” said YH Lee, President of the Global Marketing Office at Samsung Electronics. “We will always strive to be a brand that is loved by our customers through leading in technology innovation, enabling meaningful experiences and continuing our sustainability efforts.”
Brand Value Driven by SmartThings, Gaming Experience, Industry-Leading Innovations, and ESG Leadership
Late last year, Samsung Electronics established the Direct-to-Consumer (D2C) Center under the Global Marketing Office to provide an integrated online and offline experience. The company also has the CX-MDE Center which is responsible for strengthening the multi-device experience to increase synergy between products and improve the overall customer experience.
Partnerships were also a major factor that drove Samsung’s brand value over the past year. Based on SmartThings, which provides a unified connectivity experience, Samsung is further strengthening its open partnerships to connect not only its own products but also various third-party devices. In addition, the partnerships with various companies across mobile, tablet, TV, PC and monitor products provide customers with an optimized gaming experience.
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Samsung continues to invest in leading future technologies such as 5G/6G, AI and automotive that will enable and empower the consumers of tomorrow. In the semiconductor sector, the company was recognized for its industry-first innovations such as 12nm-class DDR5 DRAM and for actively addressing the promising industries from AI to automotive and advanced mobile devices.
ESG has been a major focal point, as the company’s eco-conscious activities are making an impact. Samsung’s efforts include increasing the usage of recycled materials, such as plastics from discarded fishing nets, glass and aluminium in Galaxy S23 and Galaxy Z Flip5ㆍFold5 series, open licensing of solar cell remote technology used in TVs, working together with Patagonia on the Less Microfiber™ Filter for washing machines and introducing AI energy mode in SmartThings Energy.
Samsung’s Recognized Efforts in Each Business Division
Mobile
· Camera innovation of the Galaxy S23 series based on customers’ insights
· Launching the “Join the Flip Side” campaign and maintaining its leadership in the foldable phone category
· Strengthening its position in the gaming industry to optimize gaming performance in the Galaxy devices by working with industry leading gaming partners
· Consistently enhancing the accessibility of its products and services, including the “Ambient Sound” feature on the Galaxy Buds
· The Samsung Global Goals app to mobilize the Galaxy community and educate them about ways to support the Global Goals
Networks
· Pioneering 5G innovation through technical leadership such as 5G virtualized Radio Access Network (vRAN) and Open RAN
· Strengthening its position in the 5G industry through strong partnerships with global Tier 1 telecommunications operators
· Communicating the sustainability aspects of Samsung’s 5G network technology
Visual Display
· Consolidating global market leadership through continuous product innovation, including Neo QLED 8K and Micro LED
· Strengthening its position in the gaming industry through innovative products such as the Odyssey Ark, the Samsung Gaming Hub, and partnerships with global leading game streaming services
· Enhancing accessibility through Relumino Mode and RNIB(Royal National Institute for Blind People) partnerships
Home Appliances
· Maintaining global leadership in major home appliance categories such as refrigerators and washing machines
· Enhancing user experience throughout product life cycle based on customer insights
· Introducing a new role for home appliances with Bespoke products and winning CES Innovation Award, iF Design Award and more.
Semiconductor
· Delivering industry-first innovations, such as 12nm-class DDR5 DRAM, and solidifying market leadership
· Strengthening partnerships in high growth areas such as AI and automotive
· Expanding Exynos applications into wearables and 5G
· Enhancing credibility with ISOCELL sensors in flagship smartphones from major manufacturers
· Consistently strengthening ESG communications
Interbrand’s Best Global Brands are listed according to the evaluation of each brand value, which is a result of comprehensive analysis of the financial performance of the company, the influence of the brand on customer purchases and brand competitiveness. It is a brand value evaluation with one of the longest histories in the world and is widely recognized for its credibility.
