Samsung has announced that the company is now in fifth place in Interbrand’s ranking of Best Global Brands 2020. Forbes has also named the South Korean manufacturer the best employer in the world. So those are pretty good developments for the QLED TV and Galaxy manufacturer.
The coronavirus has caused a lot of problems worldwide, including Samsung. Despite this, the company saw its brand value increase by two per cent this year: from $ 61.1 billion in 2019 to $ 62.3 billion in 2020. The manufacturer climbed to the top five worldwide in three years after reaching sixth place in the list of Best Global Brands 2017. Brand equity has grown systematically since the ranking started in 2000 when it was still 43rd. In 2012, the Galaxy smartphone maker was still in ninth place, so a lot has changed in a short time. The rise in the rankings was supported by the continued introduction of new products and the implementation of broad marketing activities around the world, the company said.
Samsung enjoys higher brand equity
“We started at number 43 in 2000 with a brand value of $ 5.2 billion. This year we are in the top 5 with a brand value of $ 62.3 billion, which is a great achievement,” said Menno van den Berg, President of Samsung Benelux. “We could not have achieved this performance without the support of our customers around the world. We will of course continue to innovate in order to further improve our global status. ”
According to Interbrand, the following factors have driven Samsung’s growth:
- Rapid response to COVID-19 through global corporate social responsibility (CSR) activities and integrated global campaign;
- Company-wide activities aimed at sustainable development;
- Continuous introductions of innovative products, including Galaxy Fold
- Systematic investments in the development of advanced technologies, such as artificial intelligence (AI), 5G and the Internet of Things (IoT).
In response to COVID-19, Samsung has made multiple donations in different countries based on specific needs. In addition, the brand rolled out a global campaign with the message ‘Get through this together’, in which Samsung users share photos and videos to cheer people around the world. The COVID-19 campaigns were launched in conjunction with ongoing CSR campaigns and various education programs, such as Solve for Tomorrow, Smart School and Innovation Campus.
Samsung has done a lot in recent years to increase brand value, by also focusing on sustainability. Think of the environmentally friendly packaging for Samsung TVs and smartphone cases made of recycled material.