Discover how Samsung maintained its position as a top 5 global brand, driven by innovations in technology, customer experience, and ESG initiatives.
Samsung Electronics has been named as one of the top five global brands for the fourth consecutive year by Interbrand, a renowned brand consultancy. This recognition comes as Samsung’s brand value soared to $91.4 billion, marking a 4% increase from the previous year. The company’s growth has been attributed to various factors, including advancements in technology, customer experience strategies, and environmental, social, and governance (ESG) initiatives.
Key Highlights:
- Samsung’s brand value reached $91.4 billion in 2023, growing by 4% year-on-year.
- The “One Samsung” strategy significantly improved customer experience across the company.
- Samsung led in future technologies like 6G, AI, AR, and VR.
- The brand strengthened its ESG leadership with eco-friendly practices across all product lines.
- Significant partnerships and product synergy enhanced gaming experiences and connectivity.
- Samsung’s focus on technology innovation, meaningful experiences, and sustainability efforts contributed to its brand value.
Samsung’s 2023 success stems from a holistic improvement in customer experience, guided by their “One Samsung” strategy. This approach has led to enhanced connectivity and gaming experiences, backed by a diverse product portfolio and the SmartThings platform. The company’s commitment to leading future technologies, such as 6G, AI, automotive, augmented reality (AR), and virtual reality (VR), has been a critical factor in its brand valuation.
Moreover, Samsung has taken consistent steps to bolster its ESG leadership. This includes eco-conscious practices across all product lines, reflecting a commitment to sustainability. These efforts have positively influenced customer perceptions and brand value.
YH Lee, President of the Global Marketing Office at Samsung Electronics, emphasized the company’s dedication to technology innovation, meaningful customer experiences, and sustainability efforts. This approach has been instrumental in maintaining Samsung’s brand value despite challenging business environments.
Samsung’s brand value has also been driven by its SmartThings platform, which offers a unified connectivity experience. The company’s focus on partnerships has been crucial in connecting not only Samsung products but also various third-party devices. These collaborations, particularly in the gaming sector, have provided customers with optimized experiences across multiple devices.
In the semiconductor sector, Samsung has been recognized for industry-first innovations and addressing emerging industries such as AI, automotive, and advanced mobile devices. The company’s efforts in sustainability, including the use of recycled materials and eco-friendly technologies, have further enhanced its brand image.
Each business division of Samsung has contributed to this success. Innovations in mobile technology, network advancements, visual display breakthroughs, and home appliance developments have all played a role. The semiconductor division’s pioneering innovations and partnerships in high-growth areas have further solidified Samsung’s market leadership.
Interbrand’s Best Global Brands list is compiled based on a comprehensive analysis of financial performance, brand influence on customer purchases, and overall brand competitiveness. Samsung’s consistent ranking in this list highlights its sustained market leadership and brand strength in the global arena.
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