Innovative Companies
According to industry sources on Feb. 19, Samsung Electronics was not on the 2014 list of the 50 Most Innovative Companies by US-based business magazine Fast Company.
Since 2001, the magazine has selected the 50 most innovative companies each year by evaluating innovate ideas and creative management capabilities of enterprises worldwide. On top of that, Fast Company has named the world’s top 10 most innovative companies in various sectors, including advertising, China, household appliances, energy, and healthcare.
Samsung was first included on the list in 2008, occupying the 15th spot. Nevertheless, its ranking went down to 35th place in 2010 and 43rd place in 2011. In 2012, the company was not in the top 50. Last year, it became the 17th most innovative company, helped by the tremendous popularity of the Galaxy S3. However, as in 2012, it disappeared from the world rankings this year.
The Korean tech giant was not able to enter the top 10 in household appliances in 2014. Last year, the firm occupied the runner-up position in the area, since its contribution to introduce Smart TV to the world and to set the trend of phablets was acknowledged.
Samsung, however, was named as world’s second most innovative company in advertising. The magazine reported, “When CMO Todd Pendleton joined the organization from Nike in mid-2011, its smartphone brand was almost a non-entity in the United States. But in a short time, Pendleton turned Samsung into the iPhone’s biggest challenger.” It also said that the Korean tech company made cheeky viral ads that took on the absurdity of Apple cultism, and undertook ambitious projects such as the release of Jay Z’s new album exclusively on Samsung devices.