Samsung announced today that it has become number five in the Best Global Brands 2020 list announced by Interbrand, a global brand consulting company, with its largest-ever brand value of USD 62.3 billion.
Despite the challenging business environment brought on global companies by COVID-19 in 2020, Samsung saw a 2% rise in brand value from USD 61.1 billion in 2019 to USD 62.3 billion this year. Samsung ascended to the global top five in three years after reaching number six in the list of Best Global Brands 2017.
The company has been recording consistent growth in terms of brand value since starting in 43rd place in 2000 when Interbrand began publishing the Best Global Brands. Since entering the top ten with a number nine rank in 2012, Samsung has continued its steady climb, reaching 6th place in 2017 and 5th place in 2020.
Samsung’s move upwards in Interbrand’s list of 100 most valuable brands in the world was backed by the continuous introduction of innovative products and the implementation of broad marketing activities on the global stage.
Response to COVID-19, CSR, innovation in lifestyle-related products, and continued investment in future growth engines drive brand value.
According to Interbrand, major factors that played a critical role in Samsung’s growth were:
Rapid response to COVID-19 through global activities for corporate social responsibility (CSR) and integrated global campaign Company-wide activities dedicated to sustainable development continuous launch of innovative products including Galaxy Fold, The Terrace, and BESPOKE refrigerator
Consistent investment to lead the development of advanced technologies, such as Artificial Intelligence (AI), 5G, and Internet of Things (IoT)
In response to COVID-19 repercussions, Samsung Electronics has made multiple donations according to country-specific needs to help communities overcome difficulties. Samsung also successfully ran a global campaign with the message, “Get through this together” on social media channels and outdoor billboards in Times Square in New York, Piccadilly Circus in London, Duomo di Milano in Italy, and the Entertainment Building of Hong Kong as part of its endeavors to engage and communicate with consumers in difficult times. Additionally, Samsung garnered positive feedback with a campaign where photos and stories submitted by consumers through social media were collected and made into video ads for outdoor display to cheer up consumers around the world. The COVID-19 campaigns were launched in tandem with ongoing campaigns for Samsung’s CSR vision, Enabling People, and various education programs for future generations, such as Solve for Tomorrow, Smart School, and Innovation Campus.
Samsung’s devotion to sustainability in all aspects of business management also contributed to a boost in brand value, as demonstrated by the eco-friendly packaging for Samsung TVs and smartphone cases utilising recycled materials. Above all, unwavering efforts to achieve innovation despite challenges posed by COVID-19 were among the main contributors that drove the company’s growth into the top 5.
Samsung’s Mobile Communications business has solidified its leadership in the 5G smartphone market and resonated with Generation Z with the Galaxy A series and marketing activities such as the Awesome campaign. The company also demonstrated continued innovation by creating a new product category with the introduction of the Galaxy Z Flip. In the network business, Samsung has established its position as a leader in 5G, by pioneering new markets and expanding partnerships with businesses in key markets such as the US and Japan.