Samsung declared 21st most valuable company in the world by BusinessWeek

According to a BusinessWeek magazine and Interbrand Consultancy's annual survey of the top 100 global brands, Samsung's brand value registered a 16 per cent growth over last year, more than doubling its value from the $5.2 billion in 2001 to $12.5 billion in 2004.

The report, considered to be one of the most prestigious global brand studies, states that Samsung's key success factors were the determination of its management to make Samsung the leading technology brand and the consumers attraction for the dynamo's cool digital products.

"This is the third year in a row that Samsung has been moving up notches among the top 100 global brands. The 21st position is a reiteration of the formidable position Samsung enjoys 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 is presently ranked at the 21st position, an improvement on its 25th place in 2003 and 34th place in 2002, and occupies a slot right behind Japan's Sony which has held onto its 20th position of 2003, after seeing a drop in value by three per cent to US$13.2 billion.

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 international events such as the Olympic Games, FIFA Youth Championship and Dubai Desert Classic.

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 Kun-Hee 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 leading market share globally in mobile-phone handsets.

The top 100 global brand survey calculated the brand values as the net present value of the earnings that the brand is expected to generate and secure in the future for the time frame from 1 July 2003 to 30 June 2004. In order to be included in the top global brands list, a brand had to be valued at greater than $2.1 billion, be global and generating significant earnings in the main global markets, and with sufficient marketing and financial data publicly available for preparing a reasonable valuation.