Here’s How Much Samsung Had to Pay in Marketing Funds to Promote Its Galaxy S7
Making a great flagship is tough on the company’s knee caps but it is also the marketing funds that require a huge amount of capital from the company. Fortunately, Samsung has the financial muscle to take out huge chunks of those marketing funds to effectively spread the message of its near-flawless Galaxy S7 during 2016. However, the tech giant was forced to allocate even more monetary resources thanks to the Galaxy Note7 fallout, and you’re about to find out how much.
Samsung Injected More Than $10 Billion USD on Marketing Funds in 2016 – LG Upped Its Budget as Well to Get the Message Around the Globe
The latest industry data states that Samsung spent 11.5 trillion won (which is equivalent to $10.2 billion USD) on marketing in 2016. The aforementioned figure that you have read; out of the $10.2 billion USD, around $4 billion USD was allocated on advertisements, and thanks to the overwhelming competition, that budget had increased by 15 percent when compared to 2015.
According to the statistics reported by Yonhap News, LG also decided to spend a huge number of funds, allocating 1.3 trillion won ($1 billion USD) on advertisements last year, resulting in an increase of 21.4 percent. Unfortunately, due to the Galaxy Note7 fallout, Samsung was forced to focus heavily on Galaxy S7 and Galaxy S7 edge, and since newer models of the 5.5-inch phablet had to be introduced to help users move on from what happened with the Note7, the South Korean firm had to spend more money.
It is possible that Samsung would have saved itself from a financial headache had the Note7 fiasco not occurred in the first place, but a major portion of the company’s smartphone division earnings rest heavily on the Galaxy S8 and Galaxy S8+. The design change of these two devices coupled with their extremely powerful hardware will be great selling points for both phones.
If that was not enough, then the company’s DeX dock is a great way to appeal to enterprise consumers to transform their existing desktop system into one that bears a very clean look with minimized clutter.
Stay in the loop
GET A DAILY DIGEST OF LATEST TECHNOLOGY NEWS
Straight to your inbox
Subscribe to our newsletter