The silver lining in Samsung’s lousy week

The silver lining in Samsung’s lousy week

Samsung is certainly going through a rough patch right now as its quarterly profits have continued on an alarming downward trajectory. That said, things aren’t all bad for the Korean smartphone titan right now: As The Wall Street Journal points out,Samsung’s brand is still one of the most powerful in the world and it’s only gotten more prestigious in the last year.

“Samsung Electronics has climbed one spot to No. 7 in an annual ranking of the world’s biggest brands, giving the South Korean smartphone maker a symbolic boost as it faces competitive pressures from all sides,” the Journal notes. “Samsung is the highest-ranking gainer in the charts.”

Of course, Samsung still has a long way to go to match the brand prestige of Apple, which has once again been named the No. 1 brand in the world by Omnicom Group’sInterbrand consultancy. Other big tech brands to perform well on the survey included Google, which ranked No. 2, IBM, which ranked No. 4, and Microsoft, which ranked No. 5.

All the same, even though Samsung’s profitability is in steep decline, it’s still by far the most well known Android vendor on the market and it’s at least still consistently making money selling smartphones, which is much more than you can say for its rivals.

SOURCE:

THE WALL STREET JOURNAL