Interbrand, a major worldwide brand consultancy, which publishes Best Global Brands on an annual basis, identifying and examining the top 100 most valuable global brands has this year ranked Samsung Electronics No. 8 worldwide and No. 4 in the IT industry ranking.

Samsung Electronics was recognized for its outstanding business management, initiatives and continued market leadership thanks to the release of innovative products such as smart phones and televisions. With a global growth rate of 20.4 percent according to Interbrand brand valuation results, Samsung made the third largest growth rate. Samsung also greatly exceeded the average brand’s increase of the top 100 brands of 8 percent and the average technology business rate of 15 percent.

In three short years, Samsung’s value brand progress surged ahead since it entered the top 20 in Interbrand’s global brand in 2009 and again when it entered the top 10 last year. Notably, Samsung was also selected as No. 2 in the Most Innovative Companies 2013. The report is released each year by the global strategic consulting firm Boston Consulting Group (BCG).

Jae Cheon Park, Samsung’s GM for Saudi Arabia, said: “Our global ranking is reflected as well in our local ranking as we have been nominated earlier this year as the number one brand in Saudi Arabia by YouGov Brand Index.”

Samsung Electronics owes this success to its continuously strengthened leadership position in the smart phone and TV categories, and its clear brand strategy and other brand strengths across categories. With clear brand aspiration and related marketing activities, Samsung increased its brand value mainly through TV (9 percent), mobile (77 percent) and memory (7 percent), and the other categories (7 percent), which resulted in an overall brand strength score (BSS) improvement of 19 points; corporate increased by 5 points, TV and mobile added 2 points each, digital instruments (DI) and memory each went up by 5 points as well.