Samsung appears to be very interested in doing away with the notion that the Galaxy Note 7 debacle has hurt its brand value significantly. A recent report out of South Korea revealed that despite the recall, Samsung retained its position as the most valuable brand in the country. Samsung has shared another report on its own website today which puts it in 7th place on Interbrand’s Best Global Brands 2016 list. Samsung has been assigned a brand value of $51,808 million which is a 14 percent increase from last year.
Samsung has been ranking in the top ten on Interbrand’s list for the past five years and has continuously shown growth in brand value. The company’s brand value has more than tripled over the past decade. Samsung’s launch of premium products across its mobile, TV and home appliances businesses, as well as its consumer-centric marketing efforts, were deemed to have improved its brand power. The company’s financial results and positive outlook on sales have also influenced its brand value. “We will maintain our mid and long-term marketing efforts to deliver our sincerity and distinctiveness to our customers,” said Moon Soo Kim, Executive Vice President of Global Marketing Center at Samsung Electronics.
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