Samsung Electronics' brand value ranks 5th worldwide in 2023: Interbrand

The brand value of Samsung Electronics was ranked fifth worldwide in 2023, according to a report released by global brand consultancy Interbrand on Tuesday.

According to Interbrand's list of the Best Global Brands for 2023, Samsung's brand value was estimated at $91.4 billion, growing 4 percent from last year, making the company the fifth-biggest global brand after Apple, Microsoft, Amazon and Google.

Interbrand's Best Global Brands are listed according to the evaluation of each brand's value, which is a result of a comprehensive analysis of the financial performance of the company, the influence of the brand on customer purchases and brand competitiveness.

Samsung was the sole Korean firm listed among the top 20 brands. It marked the fourth consecutive year for the company to make it to the top five of the Interbrand list.

According to Interbrand, Samsung Electronics' evaluation was positively influenced by the consistent companywide improvement of the customer experience, increased level of connectivity through its wide-ranging product portfolio and its SmartThings platform, and its role as a leader in future innovative technologies, among others.

Partnerships were also a major factor that drove Samsung's brand value over the past year. Samsung said it is further strengthening its open partnerships to connect not only its own products but also various third-party devices through the SmartThings platform.