Samsung extends Olympic Games sponsorship to 2020
Samsung has agreed to renew its sponsorship of the International Olympics Committee (IOC) in the wireless communications equipment category until 2020.
IOC President Thomas Bach and Samsung's Jay Y Lee seal the deal
The deal, which will see the firm partnering the next three Olympic Games events, was signed on Sunday in Nanjing, China.
As a result of the agreement, Samsung will now officially sponsor the Olympics Games including, Rio De Janiero 2016, the PyeongChang 2018 Olympic Winter Games and Tokyo 2020.
This will see the IOC sponsored by Samsung’s smartphones, tablets, laptops, personal computers and other computing equipment, and desktop printers.
Younghee Lee, executive VP of global marketing, IT and mobile at Samsung Electronics, said: “Samsung aims to spread the Olympic spirit through our innovative products, enabling all fans around the world to stay connected and share the excitement of the Olympic movement.
“We are proud to extend our involvement as it is meaningful to us to inspire people through the passion that lies behind the games and contribute to creating a smarter Olympic Games.”
Thomas Bach, IOC President, said: “We are delighted to be able to continue our partnership with Samsung. The funding generated by the TOP programme directly supports the staging of every Olympic Games, as well as every one of the National Olympic Committees, enabling athletes from all over the world to prepare for and compete at each games.
“Samsung also supports the operations of each games by providing leading wireless telecommunications and technology equipment. In addition, Samsung’s technologies and global marketing reach will engage fans around the world with the Olympic values and the Olympic movement.”
Other major IOC sponsors include McDonald's, Coca-Cola, Panasonic and Atos.
This comes after Samsung earlier this summer reported a second quarter 20 per cent slump in sales after losing its smartphone sales crown in China to Lenovo.