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Business News of Thursday, 17 October 2013

Source: Samsung

Samsung is 8th in Global Interbrand Valuation

Testament to the brand’s strong global and African presence, coupled with its innovative products and solutions that are changing the consumer electronics industry, Samsung has once again climbed the ranks in Interbrand’s Best Global Brands Report for 2013, ranking 8th on the global brand index with a total brand value of $39.6 billion.

George Ferreira, VP and COO for Samsung Electronics Africa said, “We have seen one of the highest single growth rates with 20.4% and at the core of this growth is our ability to constantly reinvent our product offerings and our ability to innovate and adapt to the changing needs of the global and African market.”

Samsung continues to focus on connectivity across its portfolio including home appliances, digital cameras, and TVs in a bid to differentiate its brand in an age when consumers are demanding sharing and accessibility.

Samsung have steadily climbed the Interbrand Best Global Brand ranking since 2002, jumping 8 places from 17 in 2011 to 9 in 2012 – and in 2013 taking the 8th spot globally and the no. 4 spot in the IT industry - one of the strongest increases of absolute brand value this year.

“At the core of this growth was Samsung achieving the number 1 position in terms of smartphone market share globally – deploying global and local products and marketing activities based on consumer insight and needs,” continues Ferreira. “Additionally, we strengthened our category leadership position in TVs by continuously introducing innovative products and strategically branding ourselves consistently across our broad digital product categories.”

The Interbrand brand index method of analysis takes into account the ways in which a brand reaches out to and benefits its organisation. It brings together market, brand, competitor, and financial data into a single framework within which a brand’s performance can be assessed, a roadmap for improvement identified, and the financial impact of investing in your brand quantified.

This includes the attracting and retaining of talent to deliver on what their customers expect from a brand. Brands that are selected are therefore strong innovative brands that have responded well to not only the needs of their people and their business, but importantly to the needs of the consumers and the larger world.

“We aspire to create new technologies and innovative products that inspire the world, bringing ‘new and meaningful innovations’ to the global and local marketplace - while delivering new value to enhance the lives of our customers, partners and employees.

"This year and going forward we will continue to bring Samsung’s smart world to the continent through our Built For Africa initiatives, our Brand Stories, our Partnerships and our Innovative Technologies that serve not only individuals but also governments and business enterprises - creating a smarter eco-system for all,” concludes Ferreira.

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