Business / Technology
Monday, 10 Oct 2016 18:17 EATnewsdesk@kenyafreepress.com
Samsung Electronics is now ranked seventh in Interbrand’s “Best Global Brands 2016,” with its brand value reaching $51,808 million – a 14 per cent increase from last year and a 320 per cent increase over the last 10 years.Samsung has now appeared in the Interbrand’s Top 10 list for the past five years and has continually demonstrated growth in brand value.
“This stellar performance has been achieved through innovation and a strict commitment to adding value to our customers. Value of a brand becomes even more significant as markets rapidly change and competition intensifies,” said Jung Hyun Park, Vice President and Managing Director of Samsung Electronics East Africa
This year, Samsung’s launch of premium lineups in its core businesses – mobile, TV, and home appliances – as well as its consumer-centric marketing activities and innovation were deemed to strengthen the company’s brand power and drive growth in the corporate brand value.
Samsung’s financial results and positive outlook on sales also influenced the brand value. Samsung continues to work towards establishing an ecosystem for innovative products and services that improve consumers lives, while working to create sustainable business through smart wearable products including the Galaxy series, Gear VR, and Gear S, and mobile payment services like Samsung Pay. As a result, Samsung recorded strong earnings in the first and second quarter of 2016.
This year’s Best Global Brands was announced at Samsung 837 in New York City. Samsung 837 is an experiential marketing centre for consumers to experience Samsung’s products, contents, and cultural events.