Samsung Electronics ranks among top five Best Global Brands for fourth time

This file photo taken on 11 October 2016 shows the Samsung store in Paris. Samsung Electronics France was charged in April 2019 with `deceptive marketing practices`. Photo: AFP

Samsung Electronics has been recognized among the ‘Global Top 5’ brands by Interbrand, a global brand consultancy, for the fourth consecutive year, recently, said a press release.

A remarkable year-on-year growth of 4 percent, accumulating to a brand value of USD 91.4 billion, implementation of viable customer experience strategies, and introduction of industry-leading innovation contributed to this magnificent achievement.

Despite a sluggish demand within the IT industry this year, Samsung has been able to increase its brand value across all arenas. The company also promoted increased connectivity and enhanced gaming experiences through a wide-ranging product portfolio and SmartThings.

Moreover, they proved themselves as a leader in future innovative technologies such as 6G, artificial intelligence (AI), automotive, augmented reality (AR), and virtual reality (VR), and implemented consistent actions to strengthen ESG leadership through eco-conscious activities across all product lines. Such initiatives played a pivotal role for the South Korean electronics giant in earning this accolade.

As part of the company’s efforts to improve its customer experience, 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. Partnerships were also a major factor that drove Samsung’s brand value over the past year, an example being SmartThings.

Samsung is further strengthening its open partnerships to connect various third-party devices. Besides, the company continues to invest in leading future technologies to enable and empower the consumers of tomorrow.

ESG has also 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 aluminum in Galaxy S23 and Galaxy Z Flip5, Fold5 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.

Throughout the year, Samsung has been making significant improvements across all its business divisions, including Mobile, Network, Visual Display, Home Appliances, and Semiconductors. Through impactful campaigns, consolidated strategies, and continuous improvements, Samsung has been reaching beyond boundaries to strengthen its position across all fields.

“Samsung Electronics has been able to hold on to a steady growth of its brand value despite a challenging business environment, and the credit goes to all our incredible customers worldwide. Such achievements motivate us to work harder and reach for the unbound possibilities through consistent efforts and meaningful experiences,” said Hwansung Woo, Managing Director of Samsung Bangladesh.

Interbrand’s Best Global Brands are listed according to the evaluation of each brand value, which is a result of a comprehensive analysis of the company’s financial performance, 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.