August 25, 2001 in Social Responsibility News

SAMSUNG Engineers a 31 percent Revenue Increase on the Heels of Innovative and Award Winning Products

Berlin, 25th August 2001 Samsung Electronics today unveiled a line-up of new consumer products at this year's IFA, in Berlin. The products offer a glimpse into the innovation that has powered Samsung's 31 percent revenue increase this year. Included in this exciting line up are the world's first wide-screen projection television with built-in DVD and the first ever audio player to combine an MP3 and CD in one.

Award winning growth and products
According to the 2001 Global Brand Value Survey (Interbrand, July 2001), Samsung has achieved the second highest growth in global brand value in the past year. In that time, the company's 'brand worth'rose 22 percent from $5.2 to $6.4 billion.

As multi-purpose products continue to define the consumer electronics landscape, they are also dominating industry accolades. Yesterday, Samsung received two product awards at the European Imaging and Sound Association, EISA, Awards. The first, Samsung's Photo yepp, which allows users to display still images while playing music, won in the 'Multimedia' category and the company's Dual Vision product, a combination DVD/VCR player won the 'European Combined Video' category.

Talking about Samsung's product strategy, Dr. Daeje Chin, President and CEO, Digital Media Business explained, "We are leading the consumer electronics industry on two distinct fronts, the first is product innovation, fuelled by our consumer's desire for high-quality and convenience."

He continued. "We are achieving this through our various convergence offerings such as the world's first NUON-enhanced DVD Player, which will provide cutting edge enhancements for DVD movies, music and games.

"The second, and most important element, is offering our customers value for money. We are determined to break the digital divide by offering technology that is accessible to everyone democratising technology across the World."

Samsung continues to strive for its ultimate goal to become one of the best consumer electronics companies in the world, by 2005. The company has established sales objectives of $12 billion in Europe and $58 billion in the US.

Speaking at the conference Mr Eric Kim, Executive VP, Global Marketing Operations explained: "To achieve this goal we will continue to develop our market led approach with R&D at the centre of our activities, developing products which really will enhance people's lives in the 21st century and beyond. As part of this approach this year saw the launch of Samsung's first ever global advertising campaign which is set to enter its third phase."


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