Despite Samsung Electronics going through a rough patch and having to apologize to investors, customers, and employees, not everything the company did this year was questionable. The tech giants launched some amazing products and led several initiatives and tech advancements. For these reasons, the global brand consultancy firm Interbrand recognized Samsung as a Global Top 5 brand in 2024.
This award marks Samsung's fifth consecutive yearly entry into Interbrand's Global Top 5 ranking. Impressively, Samsung's value in Interbrand's eyes has grown 62% since 2020, when Samsung first made the top 5 list.
This year, Interbrand says Samsung's brand value reached $100.8 billion after a 10% year-on-year increase. This improvement is attributed to a handful of technologies, but Samsung's advancements and approach to AI appear to have impressed Interbrand the most.
Here's why Samsung is one of the most valuable brands in the world in 2024
Interbrand looked at Samsung's efforts in each business division, including mobile, networks, display, digital appliances, and semiconductors. The consultancy firm recognized the company's advancements in each category, but AI took center stage.
Some of the things that positively influenced Samsung's evaluation were the company's efforts to bring AI technologies to the market early through the Galaxy S24 series and enhance connected experiences through AI, expanding this tech to more devices like smart TVs and Bespoke AI appliances.
Furthermore, Samsung's semiconductor sector, particularly the memory division, embraced AI and developed new technologies for the AI era.
The company also implemented a consistent brand strategy globally, all the while maintaining its commitment to a more sustainable future.
Here are the main key points that led to Samsung's brand value increasing in 2024 across multiple business divisions, according to Interbrand:
- Leading mobile AI with Galaxy S24 and expanding AI to new Galaxy Z6 foldable phones, Galaxy Ring, and Galaxy Watches.
- Strengthening leadership in vRAN and Open RAN networks.
- Leading the technical standardization of 6G and innovating technologies to support 5G, such as streaming and gaming.
- Maintaining leadership over the TV and soundbar markets and innovating with products like AI TVs and Music Frame.
- Becoming a core gaming partner through various collaborations.
- Strengthening privacy and security with Samsung Knox.
- Leading the home appliance market in categories like refrigerators and washing machines.
- Innovating the smart home segment with Bixby voice control and Auto Open Door.
- Improving energy efficiency with SmartThings AI Energy Mode.
- Becoming the industry's first to deliver GDDR7 DRAM, HBM3E DRAM, LPDDR5X DRAM, and 9th Gen V-NAND.
- Optimizing AI technologies for autonomous vehicles with ISOCELL Auto 1H1 sensors.
- Exceeding customers' expectations with fantastic storage solutions like 990 EVO and T9 SSDs.
In response to Interbrand ranking it the 5th most valuable global brand, Samsung Electronics said, “Moving forward, we will lean even further into the qualities that our users have come to both love and expect.”
