SEOUL, Dec. 9 (Yonhap) -- 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.
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.
S. Korea striving to launch world's first 5G smartphone service
Deutsche Telekom's future vision calls for enhancing human-tech interaction
S. Korea's per capita income tops US$30,000; experts warn against complacency
(MWC 19) Samsung ups 5G ante at MWC amid Huawei row
(News Focus) Rise of OTT players spurs media M&As in S. Korea