Samsung Electronics has secured its position among the elite “Global Top 5” brands for the fourth consecutive year, with a brand value of $91.4 billion, marking a 4% year-on-year increase, as recognized by Interbrand, a renowned global brand consultancy. Despite a challenging global IT landscape, Samsung’s brand value surged across all business segments in 2023. Interbrand attributes this growth to several strategic elements.
Samsung’s consistent improvement in customer experience, driven by its overarching “One Samsung” strategy, has significantly contributed to this success. The company’s wide-ranging product portfolio and SmartThings platform have expanded connectivity and enriched gaming experiences for consumers, bolstering its standing in the market.
Additionally, Samsung’s pioneering initiatives in innovative tech realms like 6G, AI, automotive, AR, and VR have further solidified its brand evaluation. Furthermore, the company’s commitment to eco-conscious activities across its product lines has played a pivotal role in enhancing its ESG leadership.
YH Lee, President of the Global Marketing Office at Samsung Electronics, acknowledged the global support from customers as instrumental in this growth. Lee emphasized the company’s ongoing commitment to innovation, meaningful experiences, and sustainability efforts, underscoring Samsung’s dedication to meeting evolving consumer demands.
Samsung’s strategic initiatives, including the establishment of the Direct-to-Consumer (D2C) Center and the CX-MDE Center, have aimed to enhance customer experience across online and offline platforms. Partnerships have been instrumental in augmenting Samsung’s brand value. The SmartThings platform has enabled extensive collaborations within Samsung’s ecosystem and with third-party devices, elevating connectivity experiences. Moreover, partnerships across mobile, tablet, TV, PC, and monitor products have significantly improved the gaming experience for consumers.
Continued investments in cutting-edge technologies like 5G/6G, AI, and automotive have positioned Samsung to empower future consumers. In the semiconductor sector, the company’s innovations, including the 12nm-class DDR5 DRAM, have been acknowledged as industry-firsts, catering to promising sectors from AI to automotive and advanced mobile devices.
ESG remains a focal point, with Samsung intensifying eco-conscious activities, such as using recycled materials in flagship products, open licensing of solar cell remote technology, collaborations on sustainable washing machine filters, and integrating AI energy-saving modes.
Samsung’s recognized efforts span across its diverse business divisions, including Mobile, Networks, Visual Display, Home Appliances, and Semiconductor. Each division has contributed significantly to reinforcing the brand’s value through product innovations, sustainability endeavors, and customer-centric approaches.
Interbrand’s evaluation methodology, which considers financial performance, brand influence on consumer choices, and brand competitiveness, underscores the credibility of Samsung’s sustained presence among the world’s leading brands. The assessment stands as a testament to Samsung’s enduring commitment to innovation, customer satisfaction, and responsible business practices.
