Despite the Note 7 controversy, Samsung still ranked as the 7th Best Global Brands in 2016, according to InterBrand's rankings. With a brand value of $51,808, Samsung was able to post an increase of 14 percent compared to last year's figures.
For the past five years, Samsung was able to rank within the Top 10 and has showed no slowing down on increasing its value. Last year, InterBrand valued Samsung at $45,297 and has also ranked 7th in the top 10 tier.
This growth was attributed by the company's launch of consumer products such as mobile phones, TV and other home appliances. Samsung was able to retain the ranking also by maintaining its consumer-centric marketing strategy and community awareness that strengthened the company's brand power and provided growth to the corporate brand value along the way.
InterBrand cites three key areas in which a company's brand value is quantified and these include, financial analysis, role of brand, and brand strength. Since its inception in 1988, InterBrand has cemented an ISO 10688 certified methodology of analyzing the data that provides a rich interpretation of how a certain company is doing in terms of brand management.
This year is the 17th time the New York based consultancy firm released an annual Best Brands list that has long been dominated by American companies. In a statement by Moon Soo Kim, the Executive Vice President of Global Marketing Center at Samsung Electronics, the company will maintain mid and long-term efforts to deliver sincerity and distinctiveness to its customers. He also added that a "Value of a brand becomes even more significant as markets rapidly change and competition intensifies."
Listed among Apple, Google, Coca-Cola, Microsoft, Toyota and IBM at its forefront and has overtaken Amazon, Mercedes-Benz and GE on its rear, Samsung adds another triumph in its longstanding reputation as one of the world's most valued companies.
