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  • Brand value of Samsung Electronics, Hyundai Motor surges in 2011
DATE: 2011-10-05 VIEW: 53
CATEGORY: Business ORIGIN: YonhapNews
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(Yonhap) -- Samsung Electronics Co. and Hyundai Motor Co. saw their brand value surge in the latest Interbrand's top 100 annual list thanks to strong sales and aggressive marketing, industry sources said Wednesday.

   The Best Global Brands 2011 released by the international branding consultancy showed Samsung's value hitting US$23.4 billion, up 20 percent from $19.5 billion tallied last year, according to the sources.

   The ranking of the world's second-largest computer-memory chip maker also went up two notches to 17th place, marking the third year in a row that Samsung has remained on the top 20 list.

   Samsung first made the prestigious Interbrand list in 2002, ranking 34th and its corporate brand valued at just $8.3 billion, but it has since moved up the ladder.

   The company said its past gains can be attributed to a rise in sales that topped 150 trillion won (US$125.9 billion) and operating profit that reached a record 17 trillion won last year. Samsung has bolstered its corporate image by making headway in smartphones, tablet PCs and maintaining its edge in the memory chip field, which it dominates.

   The company has been active in sports marketing, by sponsoring international events such as the Olympics, and has engaged in various corporate social responsibility programs.

   The latest report, in addition, showed the brand value of Hyundai, the flagship company of Hyundai Motor Group, the world's fifth largest carmaker, jumping 19 percent compared to the year before to over $6.0 billion. In the 2010 list, Hyundai's brand value was rated at around $5.0 billion.

   The carmaker's ranking also moved up to 61st place this year from 65th place in 2010.

   Hyundai, South Korea's No. 1 carmaker, first made the Interbrand list in 2005 when its ranking stood at 84th place.

   The carmaker said solid sales gains led by popular new models helped improve its corporate image.

   The company claimed that the latest findings are noteworthy because Hyundai's brand value outstripped all of the other 11 automakers on the list.

   "The average brand value gain of other carmakers stood at 8.1 percent, way below gains for Hyundai," a Hyundai official said.

   He also said that positive ratings by consumer reporting agencies such as J.D. Power and Associates, bolstered its overall brand image.

   The latest Interbrand report, meanwhile, showed Coca Cola, IBM, Microsoft, Google and GE making the top five list, with Apple Inc. jumping from 17th place to eight place, mainly due to the favorable market reception of its iconic iPhones and iPads.
 
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