Samsung becomes the 5th most valuable global brand in the COVID-19 era

Last updated: October 20th, 2020 at xiv:53 UTC+01:00

Samsung has been in the Best Global Brands height ten listing since 2012 when the company climbed up to 9th place from 17th over the course of one twelvemonth. Samsung continued to win ground over the years and climbed upwardly to 8th identify in 2013. The company made the jump to seventh place in 2014 and information technology secured sixth place in 2017, 2018, and 2019. This year the visitor won another spot and information technology finally made the list of top v Best Global Brands.

Despite the challenging faced past the company in the current economic climate, Samsung managed to increase its brand value in 2020 by 2%, according to global brand consulting visitor Interbrand. The Samsung brand was valued at $62.3 billion this twelvemonth, up from $61.i billion in 2019. This is the first time for the Korean tech behemothic to brand it in the height v listing of All-time Global Brands, and because the visitor has been in a constant upward trajectory, it probably won't give up its spot anytime soon.

How did Samsung increase its brand value in the COVID-nineteen era?

COVID-19 and the lockdowns that followed have left a noticeable mark on the mobile market place, with global smartphone sales dropping drastically and with Samsung and other OEMs focusing on the mid-range market to brand up for lost sales in the flagship segment.

Nevertheless, Samsung was able to increase its brand value precisely because it responded apace to the COVID-xix threat. The visitor donated millions of dollars to back up the fight against the virus in diverse countries and ran numerous campaigns to improve its customer services during lockdowns. The company also launched diverse didactics programs for the report/work from home era, such as Solve for Tomorrow, Smart Schoolhouse, and Innovation Campus.

Aside from these efforts, the company's brand value increased thanks to company-wide activities designed to promote sustainable development. Samsung company was also praised for its consistent investment in avant-garde technologies including 5G, AI, and IoT.

Terminal but not least, Samsung improved the value of its brand with the release of innovative products such as The Terrace Goggle box designed for outdoor viewing, and the Galaxy Fold series. These products are unique and have helped Samsung increase its market place visibility fifty-fifty in the eyes of consumers who might not be a role of the Galaxy ecosystem.