Web Desk (December 5, 2018): Samsung has become the most world’s biggest spender on advertising.
For the first time, the South Korean consumer electronics company beat out packaged goods company Procter & Gamble in terms of the advertising dollars it’s spending, reported Tech Crunch. According to new data from AdAge, the company spent $11.2 billion for advertising and sales promotion last year, compared to P&G, which spent an estimated $10.5 billion. Samsung, which has a $300 billion market cap, may have spent so heavily in part to counter bad press, including around its Samsung Galaxy Note 7 phone, which had the unfortunate capability of spontaneously bursting into flames.
Fighting Apple for constant mindshare isn’t cheap, either. For example, you may have noticed the flurry of anti-iPhone X ads that the company churned out ahead of the release of its Galaxy Note 9 unveiling — an effort to boost its bottom line after sales of its Galaxy S9 phone disappointed.