Samsung’s marketing budget was 10 times that of LG’s in 2016
Samsung spent $10B for marketing in 2016
Samsung is the world’s largest vendor of Android smartphones, and according to Gartner, it was virtually neck-and-neck with Apple in global smartphone sales at the end of 2016, with just under 18% of the worldwide market. On top of that, the South Korean giant sells any number of other devices and appliances, from tablets and notebooks, to refrigerators and washing machines.
Apparently, the giant spent a grand marketing total of 11.5 trillion won (US$10.2 billion) during 2016, including 4.4 trillion won, or around 4 billion US dollars, on advertisements, both figures representing a big increase from the previous year.
LG also increased its advertising budget last year by spending 1.3 trillion Won (around $1 billion), representing a 21.4 percent increase compared to 2015. The uptick in spending is said to be the result of Samsung’s renewed focus on promoting its smartphones and LG’s efforts to promote its high-end products.
Industry experts commented that Samsung raised expenditures to keep the interest toward its smartphones high despite the Galaxy Note7 fiasco. LG, on the other hand, invested in promoting high-end home electronics.
Source: Yonhap News Agency