Samsung named fastest growing brand for second year in a row by BusinessWeek

BusinessWeek magazine and Interbrand Consultancy annual survey of the top 100 global brands ranks Samsung as the world's 25th largest brand, an improvement on its 34th place in 2002 and 42nd place 2001. Samsung's brand has registered a 31 per cent growth over last year, more than doubling its value from $5.2 billion in 2001 to $10.8 billion in 2003.

The report, considered to be one of the most prestigious global brand studies, states that Samsung's key success factor was its management's ambition and determination to make Samsung the leading technology brand and its willingness to make the necessary investments to achieve its success.

"This is the second year in a row Samsung has been named as the fastest growing brand in the world, and is a mark of the formidable position we enjoy among an elite group of multinationals whose brands command premium mind share with consumers, thought leaders and retailers worldwide," said Mr. B. W. Lee, President and CEO, Samsung Middle East and Africa.

"As identified and emphasised by our Chairman Kun-Hee Lee, Samsung is committed to growing its brand equity through an institutionalised approach to marketing and continued investment in its people, products and the communities in which it operates. Our goal is to continue to become a global leader in the Digital Convergence revolution with a number one market share in most digital product segments. In the Middle East region, Samsung has succeeded in moving the power of digital technology into the hands of consumers through its innovative
'Everyone's Invited' brand strategy," Mr. Lee added.

Samsung has adopted a holistic approach to global brand communications, implementing several independent regional strategies that are guided by a unified brand image. The dramatic growth in Samsung's brand is a testimony to the company's investments in integrated global advertising and marketing initiatives, including its continued partnership with the Olympic Games and unprecedented association with Hollywood movie blockbusters such as The Matrix series.
The principles of Samsung's brand leadership are identified in the company's New Management philosophy, introduced in 1993 as part of the company's global quality initiative. At the time, Chairman Lee declared that the Samsung brand needed to become synonymous with world-class products, employees and processes. Since then, Samsung has emerged as a global leader in numerous categories, achieving the number one market share worldwide in semiconductor memory chips, flat-panel monitors and colour TVs, and number 3 market share globally in mobile-phone handsets.