Samsung's Promotional Budget for 2013 Bigger than Iceland's GDP
Samsung wants its ads and devices to be in the minds of consumers everywhere and it is prepared to do anything to achieve that aim.
According to Reuters, Samsung is expected to spend about $14 billion this year for advertising and promoting its Galaxy mobile devices and other consumer electronics. The budget is apparently larger than Iceland's GDP.
Reuters also claims that Samsung allocates a bigger portion (5.4%) of its annual revenue for advertising and promotion than any other of the world's top 20 companies by sales. In comparison, Apple and General Motors spend just 0.6% and 3.5% respectively.
The South Korean company hints that it will continue to allocate massive or even bigger budgets in the next few years. In its statement to Reuters, Samsung states that it will "continue to leverage our brand power to maintain growth momentum, while focusing on optimizing the efficiency of our marketing activities."
Judging from its position in the global smartphone market and record sales of its Galaxy devices, it seems that the expenditure is justified in the eyes of the management.