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Samsung Electronics, after a painstaking seven-month review, has chosen the WPP Group for its multi-million-dollar global advertising account, said The Wall Street Journal.
The main competitors for the Korea-based electronics goods major's account were WPP, France's Publicis Groupe, and Foote Cone & Belding and Initiative -- a part of Interpublic Group of Cos -- which handled the Samsung advertising account for several years.
WPP agency networks J Walter Thompson and Berlin Cameron/Red Cell will share the creative portion of the account, working together on ideas and using JWT as a delivery system.
To handle media, Group M's MindShare is expected to form an international partnership with Samsung's in-house agency, Cheil Communications.
The advertising account is said to be worth over $600 million annually. About one-third of that is spent by the company on image- and brand-building exercises. WPP will handle that part of the advertising business for Samsung.
About $400 million a year is spent by Samsung to promote specific products. Other than that, the electronics major spends $1 billion more a year on other marketing activities, including sponsoring events like the Olympics, said The Wall Street Journal.
Samsung spends about $400 million a year on ads that promote specific products. The company spends an additional $1 billion a year on other marketing activities, including event sponsorship such as the Olympics.