Samsung Electronics Co., Ltd. has achieved recognition as a “Global Top 5” brand for the fourth consecutive year, according to Interbrand, a renowned global brand consultancy.
The recently released “Best Global Brands” list for the current year disclosed that Samsung’s brand value has surged to $91.4 billion, showcasing a 4% year-on-year growth.
Remarkably, Samsung managed to elevate its brand value across all business sectors in 2023, overcoming sluggish demand within the global IT industry. Interbrand attributes this success to several key factors:
- Customer Experience Enhancement: The consistent improvement of the customer experience throughout the entire company, driven by the implementation of the “One Samsung” strategy.
- Connectivity and Gaming Experiences: Samsung’s expansive product portfolio and the SmartThings platform contributed to increased connectivity and enriched gaming experiences for consumers.
- Leadership in Innovative Technologies: Recognized as a frontrunner in future technologies, Samsung stands out in 6G, artificial intelligence (AI), automotive, augmented reality (AR), and virtual reality (VR).
- ESG Leadership: Samsung’s commitment to Environmental, Social, and Governance (ESG) practices, including eco-conscious initiatives across all product lines, played a pivotal role in strengthening its brand value.
YH Lee, President of the Global Marketing Office at Samsung Electronics, expressed gratitude for the global customer support, highlighting the brand’s resilience in a challenging business environment. Lee emphasized the company’s dedication to maintaining customer love through technology innovation, meaningful experiences, and ongoing sustainability efforts.
Brand Value Driven by Strategic Initiatives
Samsung Electronics strategically implemented initiatives to enhance its brand value:
- Direct-to-Consumer (D2C) Center: Established under the Global Marketing Office, this center provides an integrated online and offline experience, contributing to improved customer engagement.
- CX-MDE Center**: Focused on strengthening the multi-device experience, this center aims to create synergy between products and elevate overall customer satisfaction.
- Partnerships and Connectivity: Leveraging SmartThings, Samsung forged open partnerships to connect its products with third-party devices, promoting a unified connectivity experience. Partnerships in the mobile, tablet, TV, PC, and monitor sectors were also pivotal in delivering optimized gaming experiences.
- Investment in Future Technologies: Samsung’s ongoing investments in cutting-edge technologies, such as 5G/6G, AI, and automotive innovations, position the company to empower future consumers. Noteworthy achievements in the semiconductor sector, including industry-first innovations like 12nm-class DDR5 DRAM, further solidify Samsung’s commitment to advancement.
- ESG Initiatives: Samsung’s environmentally conscious activities, such as incorporating recycled materials in flagship products and collaborating with organizations like Patagonia, showcase a commitment to sustainable practices.
Samsung remains steadfast in its pursuit of innovation, meaningful experiences, and sustainable practices, aligning with its vision to be a beloved brand for customers globally.
