Trusted Company in India
Samsung Electronics has become the most trusted brand in India in 2017. However, Samsung Mobile's brand image in the nation slipped from first rank in 2016 to 155th this year.
According to India-based consulting firm Trust Research Advisory (TRA) on April 6, Samsung Electronics is the most trusted brand in India this year, rising 17 ranks from 18th last year.
This is because the company sees its sales of home appliances continuously increase as well as develops differentiated products and expands infrastructure with the local government, improving the brand value. Samsung Electronics dominated the Indian refrigerator market with a 30.7 percent market share last year.
Samsung was followed by another consumer electronics brand Sony that stayed at No.2 since last year. LG was at third spot, the same as last year. Apple ranks as India's 4th Most Trusted Brand, rising 12 spots from the 16th in 2016, followed by Tata, Honda, Dell and Lenovo. However, Samsung Mobiles brand dropped from No.1 last year to 155th this year.
The Note 7 battery issue last year has had a huge trust impact on the Samsung Mobiles brand. All eyes are on whether the Galaxy S8 soon to be released will recover the status of Samsung Electronics’ smartphone business.
Samsung Electronics ranks first in terms of market share in the Indian smartphone market with 25 percent, followed by China’s Lenovo with 9 percent, India’s Micromax with 9 percent, and China’s Xiaomi with 7 percent.
In particular, Samsung Electronics and LG Electronics set up the large research and development centers in India and develop customized product designs and functions for local consumers. With the success in localization, the two companies are establishing themselves as the nation’s most beloved brands.
TRA conducted this year’s survey of consumers aged 21 to 51 years across 16 cities in India.