SEOUL, Oct. 5 (Korea Bizwire) – Samsung Electronics Co., the world’s largest maker of smartphones, said Wednesday its global brand value exceeded US$50 billion this year, citing an annual survey of brand management firm Interbrand.
This year, Samsung was again ranked as the seventh-most-valuable global brand with a value of $51.8 billion, up 14 percent from last year, Samsung said in a statement.
In the statement, Samsung said its brand value has tripled for the past 10 years because of its healthy financial results and positive outlooks.
Kim Moon-soo, executive vice president of Samsung, said, “The value of a brand becomes even more significant as markets rapidly change and competition intensifies.”
“We will maintain our mid and long-term marketing efforts to deliver our sincerity and distinctiveness to our customers,” Kim said.
Meanwhile, Hyundai Motor Co. and its affiliate Kia Motors Corp. were ranked as 35th and 69th each on Interbrand’s 2016 list of the top 100 global brands.
Hyundai Motor’s brand value rose 11.1 percent on year to $12.5 billion, about 3.5 times since 2005 when the automaker appeared on the list for the first time.
The value of Kia’s brand gained 12 percent on-year to $6.3 billion, according to the Interbrand ranking.
An Interbrand official said the rise of Hyundai and Kia in their brand value can be attributed to their consumer-oriented business operations and merchantability of their products.