HomeMMBIZ NewsSamsung Electronics Voted Most Trusted Despite Profit Declines

Samsung Electronics Voted Most Trusted Despite Profit Declines

Samsung Electronics has been named the ‘most trusted brand’ in Asia for the third consecutive year in Campaign Asia’s online survey of 1,000 brands in the region.

Campaign Asia’s joint report, conducted with Nielsen, rates 14 major product categories including Asia’s automotive, retail and consumer electronics sectors.

The study’s research monitors 13 markets around Asia, where 400 respondents provide feedback from each country except for India and China, who both have up to 1,000 people surveyed.

Vice president of marketing at Samsung Electronics in Southeast Asia, Irene Ng, said the company remains committed to providing quality products to customers throughout the region.

“We are honoured to be voted as the No.1 brand in Asia for the third consecutive year,” she said.

However, last Tuesday the company revealed its operating profits for the second quarter of 2014 had dropped up to 25 percent.

From April to June Samsung Electronics estimated their profit margins reached $7.1 billion, showing a decline from profit totals hitting almost $10 billion a year ago.

The company’s operating revenue plunged 15.2 percent over the year after profit totals reached $8.49 billion in the first quarter of the year.

Campaign Asia-Pacific Managing Editor Jason Wincuinas said despite the businesses setbacks consumer interest in the company’s products is growing globally.

“The company has clearly made strong inroads with Asia’s consumers and maintaining a strong top-of-mind position here holds considerable importance from a business perspective,” he continued.

Stalling smart phone sales and the increasing value of South Korea’s currency, the won, have accounted for Samsung’s Electronics declining profit rates.

The won hit a six-year high against the US Dollar this year.

Research firm International Data Corporation (IDC) has forecast global smart phone shipment growth is expected to drop almost 20 per cent in 2014, which could add to Samsung’s declining trend.

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