Samsung Electronics Ranks First in German Consumers’ Confidence

German consumers voted Samsung Electronics “the most reliable company in the world.” The result is deemed to be attributable to Samsung quickly solving the issue of the Galaxy Note 7 catching fire to deepen consumers’ trust in the company, which is now considered to be a blessing in disguise.

Samsung Electronics ranked first in a ‘Trust Ranking’ survey conducted by Germany-based economic weekly WirtschaftsWoche and market researcher Service Value, according to industry insiders on October 12.

Samsung Electronics overtook Germany’s largest supermarket chain EDEKA in the overall rankings and beat out Sony and Acer to place first in the entertainment electronics sector. In the largest consumer confidence survey in Germany, approximately 275,000 consumers evaluated 972 companies from all over the world in 77 different sectors.

The German weekly commented, magazine, while saying, “Samsung did not lose credibility among its customers—a critical asset, in spite of the issues with the Galaxy Note 7, adding, “Through a swift apology and immediate product improvements, Samsung showed that a crisis does not necessarily mean it will lead to losing customers’ trust in a company.”

Samsung Electronics also beat out Sony and Panasonic in a customer satisfaction survey held by market survey researchers and Germany’s AV equipment specialty magazine, which targeted five major TV brands.