Samsung rises to 7th spot in best global brands

Samsung Electronics, a South Korean tech giant and the world's largest chipmaker, rose to seventh spot from eighth position in 2013, in the Interbrand's annual 'Best Global Brands' report released on Friday.

Samsung Electronics brand value increased 15 per cent to US$45.5 billion in 2014 from US$39.6 billion in 2013.

In a statement, Chief Marketing Officer SP Kim said Samsung continued to show significant growth in its brand value, which is more than double the average growth rate of 7.4 per cent achieved by the World's Top 100 Brands.

The report recognised the global growth of Samsung's brand value through creative marketing initiatives and continued market leadership across many product categories, including smartphones, televisions, digital appliances and memory devices.

He said Samsung had maintained its number one position in the smartphone market for two years, which was boosted by the launch of flagship smartphone products including new devices in the Galaxy S and Note series, while wearable devices like Samsung Gear and Samsung Gear VR point to new engines of growth.

For the television (TV) market, Samsung managed to extend its global industry leadership, which is now in its eighth year, helped by the introduction of the first Curved TVs.

Samsung is also leading the premium market for digital appliances, with new product line-up such as the Chef Collection, said Kim.