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Samsung and NBA Sign $100 Million Deal

Oct 28 2013, 6:43am CDT | by

Samsung has decided to collaborate with the NBA by providing its seasonal games with tablets and TVs. The deal has been signed for $100 million and is to benefit both parties on a mutual basis.

Samsung and NBA Sign $100 Million Deal
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Samsung and NBA Sign $100 Million Deal

The NBA has found a new partner in the form of Samsung Electronics. After the signing of a three year deal between the two, Samsung will take on the responsibility of technology provision for basketball trainers, players and mediators. The landmark pact cost Samsung a $100 million. Yet it will pay off big time in the form of some hefty dividends. 

Samsung’s products will be highlighted by the NBA in a series of high profile commercials as well during its games. This is not a new venture for Samsung. It has been there before. LeBron James endorsed a Samsung spinoff and even Jay-Z appeared in an ad during a Finals season. Samsung sure knows how to market itself. 

Samsung’s strategy is simple. It wants to promote its products as well as its name in order to gain the fame it so craves. And what better platform than the NBA, which in itself is a very popular and liked phenomenon in the USA. South Korea and the United States have always had quite an understanding. 

The agreement makes a lot of sense and if it works according to plan, the profits will be immense for Samsung and the NBA. The compact is already being touted as a giant victory for Samsung. Let’s see if it lives up to the expectations of both the behemoths.  

Source: WSJ

 

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.

 

 

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