Samsung is one of those brands which has never put its foot back when it comes to innovation and new product category additions. Last month, it added the Gear VR, a virtual reality headset to its line-up of consumer products. Virtual reality headsets are not not new to the world, but it was the first virtual reality headset which is powered by a smartphone, the Galaxy Note 4. It also introduced a range of smart watches and LTE-A connectivity equipped smartphones. It managed to sell more 4G LTE smartphones than Apple in Q2 2014. We saw Samsung unveiling world’s first curved television during CES 2014 while it’s needless to mention that Samsung is the global leader in memory manufacturing business. It supplies memory chips and processors to brands such as Apple.

Hit the jump to read the complete annual report for 2014 on ‘Best Global Brands’ by Interbrand.

SEOUL, Korea – October 9, 2014 – Samsung Electronics has risen to seventh position in

Interbrand’s annual ‘Best Global Brands’ report released today. The report recognized the global growth of Samsung’s brand value through creative marketing initiatives and continued market leadership across many product categories, including smartphones, televisions, digital appliances and memory devices.

Up one spot this year –from eighth in 2013 – Samsung recorded a brand value of $45.5 billion in 2014, a 15 percent increase over last year’s $39.6 billion. Samsung continued to show significant growth in its brand value; this is more than double the average growth rate of 7.4 percent achieved by the World’s Top 100 Brands. It also exceeds the average technology business growth rate of 8 percent.

Samsung has maintained its No. 1 position in the smartphone market for two years, which was boosted by the launch of flagship smartphone products including new devices in the Galaxy S and Note series, while wearable devices like Samsung Gear and Samsung Gear VR point to new engines of growth. Collaboration with world-renowned fashion brands and sponsorship of the 2014 Winter Olympics also increased Samsung’s brand value with consumers.

In the television market, Samsung managed to extend its global industry leadership, which is now in its eighth year; this was helped by the introduction of the first Curved TVs. Samsung is also leading the premium market for digital appliances, with new product line-ups such as the Chef Collection. The company’s partnerships with Michelin-starred chefs and world class furniture brands underline Samsung’s innovative marketing.

Meanwhile in the memory business, Samsung has successfully maintained its No. 1 position for the 21 years, supported by its solid technology leadership and new consumer-centric marketing initiatives.

Samsung managed to improve its brand value by focusing across the company on one common brand ideal: ‘Accelerating discoveries and possibilities’, and making it come to life with a number of consumer engagement programs, such as the ‘Launching People’ campaign, which reached more than 100 million people globally.

“We want to continue our efforts to become an aspirational brand through innovative ideas and technologies that give people the power to discover new experiences and enhance people’s live,” said SP Kim, the Chief Marketing Officer of Samsung Electronics.

Samsung entered the top 20 Interbrand global brand list for the first time in 2009, and moving into the top 10 in 2012 – just three years later.