Samsung Extends Deal With International Olympic Committee Through Tokyo 2020
Samsung Electronics "struck a deal" with the IOC on Sunday to "officially sponsor the Olympic Games until 2020," according to the KOREA HERALD. Under the deal, Samsung "will sponsor South Korea's PyeongChang Winter Olympics in 2018 and the Tokyo Olympic Games in 2020 by supplying a wide range of devices including smartphones, tablets, laptops and desktops for athletes and other participants" (KOREA HERALD, 8/17). REUTERS' Karolos Grohmann reported Samsung "first signed up as a top sponsor with the IOC in 1998 and was a local sponsor at the 1988 Seoul Olympics as well." Although the IOC "does not reveal contract details of its sponsorship agreements, the deals with its top sponsors generate an estimated" $100M per quadrennium (REUTERS, 8/17).