Samsung Plunges in Reputation Index

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Korea Times

February 21, 2017

The corporate reputation ranking of Samsung in the eyes of American consumers plunged 42 spots to 49th in 2017, according to an annual survey on Monday.

The sharp drop in the survey by The Harris Poll on corporate brands came as Samsung is struggling with the global recall of the Galaxy Note 7 smartphone and an ongoing probe into the presidential influence-peddling scandal in South Korea.

Samsung, which ranked 7th in last year's survey, had been included in the top 10 list over the past three years. came first in the 2017 survey, followed by grocery chains Wegmans and Publix Super Markets, according to the survey. Apple, Google and Tesla Motors were also among the top 10 this year.

Samsung has been suffering from the recall and discontinuation of the Note 7 smartphones over safety concerns.

Lee Jae-yong, vice chairman of Samsung Electronics Co., was arrested last week over his alleged role in the scandal that led to the impeachment of President Park Geun-hye.

"Best-in-class companies demonstrate that corporate reputation matters -- to your customers, employees, potential hires, business partners and investors," said Sarah Simmons, senior reputation consultant at Nielsen, which owns The Harris Poll, in a statement.

"Not only does it matter, but corporate reputation is critically important to measure and understand in the context of your company's business goals. A positive reputation can provide competitive advantages and help your company achieve its objectives while a poor one can obstruct your ability to execute against your business plan," Simmons said.

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