Samsung Electronics on Tuesday announced that it has become the fifth brand in the 'Best Global Brands 2020' list by Interbrand, a global brand consulting company. Apple, Amazon, Microsoft and Google are the top 4 brands in the list, respectively.
Despite the challenging business environment brought on global companies by Covid-19 in 2020, Samsung saw a 2 per cent rise in brand value from $61.1 billion in 2019 to $62.3 billion this year. The company said it ascended to the global top five in three years after reaching number six in the list of 'Best Global Brands 2017'.
"We started at number 43 with a brand value of $5.2 billion in 2000. This year, we stand among the top five with a brand value of $62.3 billion, which is a great accomplishment," said YH Lee, CMO of Samsung Electronics.
"We couldn't have made the achievement without the support of our customers around the world. To further enhance our global status, we will continue to engage and communicate with consumers".
The company has been recording consistent growth in terms of brand value since starting in 43rd place in 2000 when Interbrand began publishing the Best Global Brands.
Interbrand evaluates the brand value of businesses based on a comprehensive analysis of multiple factors including financial performance, brand influence on purchase and brand competitiveness.