Samsung Electronics has finally made it back to Fortune’s list of the World’s Most Admired Companies after a few years of absence. As of February 1, 2021, Samsung Electronics has an All-Star Rank of 49 on Fortune’s list, having been recognized for excelling in various areas of operation.
Samsung Electronics was ranked 49th with an overall score of 7.56, up 0.6 points from last year. The company was awarded 1st place in areas including Innovation, Quality of Management, Long-Term Investment Value, Quality of Products/Services, and Global Competitiveness. Samsung Electronics ranked 2nd in People Management, Use of Corporate Assets, Social Responsibility, and Financial Soundness.
Samsung is making a comeback after years of absence
It was all the way back in 2005 when Samsung Electronics was named one of the World’s Most Admired Companies by Fortune for the first time. It ranked 39th and the company kept climbing up Fortune’s ladder in the years to come, achieving 21st place in 2014.
Samsung Electronics has then failed to make it on Fortune’s list and the losing streak’s been going on since 2017 due to several reasons, but mainly because of the legal disputes surrounding Samsung’s Lee Jae-yong at that time, as well as the unsuccessful launch of the Galaxy Note 7. Needless to say, Samsung was getting in the spotlight for all the wrong reasons.
That’s no longer the case and perhaps Samsung will manage to stick around for longer this time, or even close the gap between it and companies like Apple, Microsoft, and Alphabet, all of which have made it in Fortune’s top 10.