They say that you use money to get money. The Koreans know that too well and they have gone big this financial year with $14 billion going into the company’s advertising and marketing ventures. In case you were wondering how huge that figure is or what you can buy with it, here are some insights: As per Blackberry’s last valuation when it was said to be going on sale ($4.7 billion) and the price that Microsoft is paying to buy Nokia ($7.2 billion), the $14 billion that Samsung is spending on advertising could have bought you two iconic tech companies (Blackberry and Nokia). Last year, it would’ve bought you another tech company, Motorola Mobility. Companies aside, as far as countries go, it is more than Iceland’s GDP. There you have it!
Samsung Electronics has a huge device portfolio and earns a lot year on year and is not stopping with its recent focus on flexible displays and wearable tech being good examples of continued focus on capturing more and more market share. Its Galaxy range of smartphones is more synonymous with Android to many an average smartphone user than Google’s own “pure” implementation of Android. Never mind other consumer devices that the company’s still-in-the-works Tizen platform aspires to power and the growth potential they pose for the company.
Samsung had a profit of $9.4 billion in Q3. With that huge marketing budget, Samsung’s focus should now shift to creating a solid brand value in mobile like it has done with televisions. It is an open secret that Samsung smartphones have a low resell value when compared to other devices in the same category from its main competitor in the mobile space Apple.
Next time you see a huge Samsung banner ad on top of your city’s most iconic building, don’t be surprised.