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Samsung Experience In N.Y. To Close Dec. 31

New York – The Samsung Experience, the 10,000-square-foot interactive showroom located at
Columbus Circle in the Time Warner Center, is closing at the end of the year
after a more than seven-year run.

In a statement
released to TWICE, the company said the Samsung Experience, which is a
leased space, “has played an important role in helping to build awareness for
the Samsung brand in the U.S.”

Samsung said in a statement that one of the reasons for it being closed is the company’s subsequent market share success, “in the U.S. as a premier electronics brand… [Samsung] enjoys leadership positions in the television, mobile, personal computing and home appliance markets. Samsung continually evaluates its marketing and advertising programs and after an extensive review, it has been decided that the Samsung Experience will close its doors on December, 31, 2011.”

David Steel, strategy executive VP of Samsung Electronics North America, told TWICE, “The
Samsung Experience has played a very good role” in establishing the Samsung
brand in the U.S. “Hundreds of thousands of consumers have visited in the past
seven years and it has been an important contributor to Samsung’s success.”

But given that success, the Samsung brand is now “in a far
different place than it was in 2004,” he noted. At the time CE retailers were
concerned that the Experience would become a store and eventually become a
chain of Samsung stores.

Over the years The Samsung Experience has hosted many
Samsung press events, receptions for its Samsung Hope For Education and other
charitable efforts, featuring such music stars as the Black Eyed Peas, John
Legend and sports stars such as Eli Manning and Joe Torre, as well as Consumer
Electronics Association events.