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Samsung Electronics beats Facebook in terms of world's most valuable brand Updated: 2018-09-11 07:27:29 KST


Korean tech giant Samsung Electronics has been ranked the fourth most valuable brand in the world-- a major jump from last year's 7th-place ranking.
It trails behind U.S. tech giants Amazon, Apple and Google but is ranked just ahead of Facebook.
A report released by U.K.-based brand valuation and strategy consultancy, Brand Finance shows Samsung's brand value surged by 57-percent from last year's estimate to nearly 78.8-billion U.S. dollars.
It's now worth eight times more than the next highest Korean brand in the rankings, Hyundai Motor company which has an estimated value of around 10-billion dollars.
The report attributes Samsung Electronics' success this year to its resilience in overcoming difficult challenges ranging from problems connected to the exploding Galaxy Note-Seven series in 2016 to the jailing of its Vice Chairman Lee Jae-yong on bribery charges last year.
It says despite these issues, the company still recorded high-volume sales of LCD screens to manufacturers across the world, as well as strong sales of other electronic components and mobile phones.
The report says in addition to measuring overall brand value which is defined as the net economic benefit that a brand owner would achieve by licensing the brand on the open market Samsung received accolades in terms of brand strength which is assessed on factors used to determine how much the brand itself contributes to a business's revenue.
Kim Ji-yeon, Arirang News.
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