Samsung Electronics Co., the South Korean tech giant, was the world's largest advertiser last year, a global consulting firm has said.
According to "The World's 100 Largest Advertisers" filed by Ad Age, Samsung pumped US$11.2 billion into its advertising and sales promotion in 2017, up 13 percent from the previous year.
 |
(Yonhap) |
The increased spending was to improve its image after the highly publicized recall in 2016 of its Galaxy Note 7 phones due to battery explosions, according to industry watchers. It is the first time that Samsung has taken the top spot on the list.
Packaged goods powerhouse Procter & Gamble Co. came next, having spent $10.5 billion on advertising and other marketing costs in the one-year period, followed by L'Oreal with $8.6 billion, Unilever with $8.5 billion and Nestle with $7.2 billion, according to the firm.
The total spending on advertising by the 100 largest advertisers grew 4.9 percent last year to $279 billion, with 68 entities expanding their spending compared to the previous year, the consulting firm noted.
Samsung, however, has slashed its ad expenditure this year.
According to a regulatory filing, its spending on advertisments skidded 24.3 percent on-year as of the end of September. (Yonhap)
