A recent analysis by international brand consultant Interbrand places Samsung Electronics’ brand worth fifth among the world’s top firms for 2023. Samsung’s brand value increased to $91.4 billion and climbed by 4% annually, according to Interbrand’s annual ranking of the “Best Global Brands.” Among the top 20 brands, Samsung was the only South Korean company.
The business made it to the top five of the Interbrand list for the fourth year in a row. Interbrand claims that, among other things, Samsung Electronics‘ comprehensive product line and SmartThings platform, continuous company-wide improvements to the customer experience, and leadership position in cutting-edge technologies have all contributed to the company’s favorable evaluation.
Samsung to Expand Semiconductor Chip Manufacturing in the United States
Within the semiconductor business, the company gained recognition for pioneering breakthroughs like 12nm-class DDR5 DRAM and for actively pursuing the most promising sectors, including artificial intelligence, automotive, and cutting-edge mobile devices. Partnerships also had a big impact on Samsung’s brand value over the previous year. As part of its efforts to integrate a wider range of third-party devices with the SmartThings platform, Samsung has announced that it is fortifying its open alliances even more.
Factors that had a favorable impact on Samsung Electronics’ evaluation, as claimed by Interbands:
- Improve the customer experience consistently throughout the whole organization using the “One Samsung” approach.
- The company’s extensive product line and SmartThings, which provide improved gaming experiences and a higher degree of connection,
- The company’s position as a pioneer in cutting-edge upcoming technologies, including virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and 6G,
- Consistent efforts to improve ESG leadership by incorporating eco-friendly practices throughout all product categories
Contributing factors for each division of Samsung:
- Mobile Division:
- Based on user feedback, the Galaxy S23 series’ camera innovation
- Launching the “Join the Flip Side” initiative and continuing to be the market leader for foldable phones
- Enhancing its standing in the gaming sector by collaborating with top gaming partners to maximize the gaming experience on Galaxy smartphones.
- Steadily improving the use of its goods and services, such as the Galaxy Buds’ “Ambient Sound” function
- To encourage the Galaxy community and inform them of methods to support the Global Goals, download the Samsung Global Goals app.
- Semiconductor Division:
- Establishing market leadership and delivering breakthroughs that set the standard for the industry, such as 12nm-class DDR5 DRAM
- Bolstering alliances in rapidly expanding industries like AI and automotive
- Extending the use of Exynos in wearables and 5G
- Boosting trust in premium smartphones from big manufacturers using ISOCELL sensors
- Continually enhancing communications about ESG
- Display Division:
- Securing leadership in the worldwide industry by consistently developing new products, such as Neo QLED 8K and Micro LED
- Securing collaborations with top worldwide game streaming providers and releasing cutting-edge devices like the Odyssey Ark and Samsung Gaming Hub to bolster its position in the gaming industry
- RNIB (Royal National Institute for Blind People) and Relumino Mode cooperate to improve accessibility.
- SmartHome devices:
- Continuing to dominate the world in important areas of household appliances, such as refrigerators and washers
- Using consumer information to improve the user experience over the product life cycle
- Bespoke goods, the CES Innovation Award, the iF Design Award, and more are ushering in a new era for home appliances.
- Network Technology:
- Leading the way in 5G innovation with technological innovations like Open RAN and 5G Virtualized Radio Access Network (vRAN)
- Securing solid alliances with international Tier 1 telecom providers to bolster its position in the 5G market
YH Lee, President of the Global Marketing Office at Samsung Electronics, said, “Thanks to the support of our customers around the world, Samsung Electronics’ brand value has continued to grow steadily, despite an overall challenging business environment. We will always strive to be a brand that is loved by our customers through leading in technological innovation, enabling meaningful experiences, and continuing our sustainability efforts.”
