Samsung Electronics’ Brand Value Makes Double-Digit Increase, Taking a Spot in the List of Top Five Best Global Brands 2022Share open/close
For two consecutive years, Samsung achieved double-digit growth in brand value
Samsung Electronics today was recognized by Interbrand, a global brand consultancy, as one of the top five in the Best Global Brands 2022. Each year, Interbrand announces the world’s top 100 brands, and Samsung’s brand value was evaluated for USD 87.7 billion, which represents 17% growth compared to USD 74.6 billion in 2021, ranking the company in fifth place for three years in a row.
The achievement was based on Samsung’s restored financial performance, which is now near pre-pandemic levels, and higher demand for memory due to an increase in data usage. In 2021, Samsung scored a brand value growth of 20% compared to 2020 and this year, continues the double-digit growth. Samsung first entered the top 10 list in 2012, placing in ninth position, and has managed to rise in the chart each year, reaching sixth place in 2017 and fifth place in 2020.
“Samsung Electronics was able to record two consecutive years of double-digit growth in brand value, all thanks to the support from our global customers,” said YH Lee, Executive Vice President and Chief Marketing Officer of Samsung Electronics. “In return, the entire company will work together as a team to provide a better and more satisfying customer experience.”
Various Factors Evaluated by Interbrand to Build the Samsung Brand Value
At the end of 2021, Samsung Electronics merged its SET Division and created the Device eXperience Division to increase synergy among its products and provide a next level of experience to customers. Furthermore, Samsung also launched the Customer eXperience-Multi Device Experience Center to strengthen its multi-device connection experience.
Along with these measures, Samsung has integrated the SmartThings across its product categories, creating an inclusive ecosystem and a multi-device experience. SmartThings also empowers consumers to get the most out of their Samsung devices, as well as third-party products they may already own.
In addition, Samsung’s Future Generation Lab has been created to foster authentic conversations around the activities of the next generation. The insights from the lab have been applied to the products and marketing activities.
As well as innovative products based on consumer experiences, the development of advanced technologies such as artificial intelligence (AI), 5G, automotive and robotics through consistent investment also played a role in Samsung’s growth.
Samsung’s Recognized Efforts in Each Product Division for a Better Customer Experience
- Camera innovation of Galaxy S22 series based on customers’ insights, and Nightography campaign rollout Cementing leadership in the foldable mobile phone category
- Partnership with Google and Microsoft to strengthen users’ connected experience
- Respecting the value of user security and privacy through Samsung Knox
- Pioneering network innovation path in virtualization and openness with large-scale commercial experiences
- Driving 5G industry with its market-leading 5G portfolio from RAN and Core to automation tools
- Realizing the ESG commitment through intelligent network solutions for energy efficiency
- Continuing innovation of premium TVs, including Micro LED, the Neo QLED 8K/4K
- Strengthening its product portfolio based on customers’ lifestyle, such as The Frame, The Freestyle
- Providing new gaming experiences to consumers, including the Samsung Gaming Hub and the Odyssey Ark
- Expanding Bespoke product categories beyond kitchen to entire home including clothing care, floor care and air care
- Delivering sustainability values through its products (achieving high level of energy saving rate for major products, guaranteed warranties for digital inverter compressor, reduced microplastic emission from washing machines in collaboration with Patagonia)
- Creating excitement among Bespoke fans through participation-focused online and offline campaigns
- Investing in next-generation technologies and production capabilities to ensure stable supplies for cutting-edge applications (constructing new $17B manufacturing line in Texas, KRW 20-trillion R&D complex in Giheung)
- Delivering industry-leading semiconductor innovations that enhance product performance and energy efficiency (industry’s first 3nm GAA mass production)
- Developing innovative memory solutions to address the explosive growth of data-intensive tasks in areas such as AI and ML (CXL memory, HBM-PIM, second-generation SmartSSD), and expanding strategic partnerships to tackle new industry challenges
- Pushing boundaries of logic solutions that can offer enhanced user experiences and new opportunities (5G Exynos Modem, Exynos 2200, 200MP ISOCELL HP3)
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.