SAMSUNG Concludes Contract with the International Olympic Committee to Sponsor Olympic Games Through 2016
Samsung, an official TOP Partner of the Olympic Games in wireless telecommunications equipment, concluded a sponsorship contract with the International Olympic Committee (IOC) on April 23, 2007 at the Diaoyutai State Guesthouse in Beijing, China. Samsung first became a full sponsor of the Olympic Games during the Nagano Olympic Winter Games in 1998. According to the new contract, Samsung will officially sponsor the Olympic Games and the Olympic Movement for the next eight years, through the Vancouver Olympic Winter Games in 2010, the London Olympic Games in 2012, the 2014 Olympic Winter Games, and the 2016 Olympic Games.
The Samsung-IOC Olympic Games sponsorship contract signing ceremony was attended by Samsung Chairman, Kun-Hee Lee, who arrived in Beijing after a three-week business trip to Europe, and more than 200 officials in sports from around the world, including International Olympic Committee President Jacques Rogge, Chief Executive Officer of the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games (VANOC) John Furlong, and London Organizing Committee of the Olympic Games and Paralympic Games (LOCOG) Chairman Sebastian Coe.
According to guidelines set forth by Samsung Chairman, Kun-Hee Lee in 1996 ? “Devise strategies that can raise brand value, which is a leading intangible asset and the source of corporate competitiveness, to the global level” ? Samsung decided to sponsor the Olympic Movement to strengthen its global corporate image and brand value and has been carrying out a global marketing campaign with the Olympic Games and the Olympic Movement as the single theme.
Accordingly, Samsung concluded a TOP (The Olympic Partner) sponsorship contract with the IOC in 1997. Since then, the company has been an official sponsor in the wireless telecommunications equipment category, including the Nagano 1998 Olympic Winter Games, the Sydney 2000 Olympic Games, the Salt Lake 2002 Olympic Winter Games, the Athens 2004 Olympic Games, the Torino 2006 Olympic Winter Games, and the Beijing 2008 Olympic Games. By sponsoring the Olympic Games and the Olympic Movement for the last ten years, Samsung has made great strides towards becoming a “cutting-edge global brand” that leads the mobile phone industry. The Beijing Olympic Games in 2008 are expected to be the climax of the company’s efforts for the last ten years.
In fact, Samsung’s brand value grew more than five-fold from a mere 3.1 billion dollars in 1999 to 16.2 billion dollars in 2006, according to the annual company brand value ratings by Interbrand, the world’s largest brand consulting company. According to Strategy Analytics, a market research organization, Samsung’s global mobile phone market share went up from 5.0% in 1999 to 11.6% last year, and its sales volume increased seven times from 16.65 million units to 114 million units.
The Partnership between Samsung and the Olympic Movement is mutually beneficial. Samsung is demonstrating its cutting-edge wireless technology at the Olympic Games, and is fully living up to its corporate philosophy ? “contribute to society” ? through the Olympic Movement. Wireless Olympic Works (WOW), first released by Samsung for the Athens 2004 Olympic Games, is a service that enables the real-time transmission of Olympic Games information to mobile phones.
Samsung seeks to boost the value of the Olympic Games and prepare for the Olympic Ceremonies as a worldwide partner in the wireless telecommunications equipment category, making a shift from a voice-based, “mobile phone-centered” sponsorship to delivering all forms of information via the mobile phone.
By sponsoring the Olympic Games for the next eight years, including the TOP VII (Vancouver 2010 ?London 2012) and TOP VIII (host countries not yet determined), in addition to the TOP IV (Nagano 1998 ?Sydney 2000), TOP V (Salt Lake City 2002 ?Athens 2004) and TOP VI (Torino 2006 ?Beijing 2008), Samsung will create a strong association between the Olympic Movement and Samsung, and will further enhance the status of the Samsung brand. By concluding a long-term Olympic sponsorship contract, Samsung is proving that investing in the Olympic Games is key to growth of a “brand” and “mobile phones”, and is showing the world that investing in the Olympic Games means unlimited growth potential.
Vice Chairman and CEO, Jong-Yong Yun of Samsung Electronics and International Olympic Committee Marketing Commission Chairman, Gerhard Heiberg held a signing ceremony on Samsung’s eight-year sponsorship at a specially produced signing table at the Diaoyutai State Guesthouse on the evening of April 23. Samsung Chairman, Kun-Hee Lee demonstrated great interest by personally welcoming officials in the sports field from across the globe, including the IOC President, Jacques Rogge.
During the signing ceremony on April 23, Daniel Newham from England and Xuchunni from China were joint MCs, and Canadian Ana Yang gave a bubble performance that symbolizes the “Dreams of the Olympic Games and Samsung.” The ceremony was made all the more meaningful with the participation of a performer from England, who plays the main character of the musical “The Little Prince,” officials from countries who will host the Olympic Games, and Sumi Jo, a Korean soprano.
About Samsung Electronics
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2006 parent company sales of US$63.4 billion and net income of US$8.5 billion. Employing approximately 138,000 people in over 124 offices in 56 countries, the company consists of five main business units: Digital Media Business, LCD Business, Semiconductor Business, Telecommunication Network Business and Digital Appliance Business. Recognized as one of the fastest growing global brands, Samsung Electronics is a leading producer of digital TVs, memory chips, mobile phones and TFT-LCDs. For more information, please visit www.samsung.com
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