Samsung ( South Korean company) is known to be the world’s huge manufacturer of electronic devices. It is undoubtedly a prestigious company and an award winning innovator producing innovative and smart gadgets every day.
Samsung specializes in the production of consumer and industry electronics such as appliances, digital media devices, memory chips, integrated systems, semiconductors and more.
Lets take a detailed overview on some of the following contents.
- SAMSUNG AS A COMPANY.
- ABOUT THE FOUNDER.
- HISTORY OF SAMSUNG ( 1938 – Present).
- SAMSUNG AS A COMPANY
- Samsung word has been derived from the Korean language ( korean hanja). Which means tri-star or three stars. The “three” here represents something “big, numerous and powerful”.
- Samsung was founded as a grocery trading Store on March 1, 1938 by Lee Byung-Chul , who was one of the most successful businessman. With the break-up of the Hyundai chaebol, Samsung is now South Korea’s largest business group.
- Their primary focus was into trading, food processing and textile, insurance, securities and retail before they moved their steps towards telecommunication.
- The company headquarter is located in Seocho district, Seoul, South korea.
- The chairman of Samsung company is Lee kun-hee and vice chairman is Lee jae-yong.
- They are providing their services worldwide in advertising, construction, entertainment, medical, health care, hospitality,retail, shipbuilding etc.
- ABOUT THE FOUNDER
- Lee Byung-Chul born in 12 February 1910, was the founder of Samsung Group and son of a wealthy landowning family started Samsung with only about USD 27.
- In the beginning,Byung-Chul established a trucking business in Daegu and named it Samsung Trading Company. He was known to be the richest man in korea and also was a first chairman of Korean industries.
- He attended college at Waseda University in Tokyo but didn’t complete his degree.
- After his death (1910-1987), Byung-Chul’s estate was opened to the public for tours. His collection of korean art is considered to be the largest private collections in the country.
- HISTORY OF SAMSUNG ( 1938 – PRESENT).</u
- On March 1st , 1938, Lee Byung-Chul started Samsung Group as a trading company at a grocery store.
- In 1960’s , Samsung stepped into Electronics, insurance, broadcasting, securities industry.
- In mid 1960’s , Lee launched a radio and T.V station, he also started producing T.V and electronic components through the Samsung electronic division.
- In 1970, the company started its black and white TV production.
- In 1974, the industry began manufacturing washing machines and refrigerator productions.
- Between 1974 and 1976, Samsung started selling washing machines.
- By 1976, Samsung had sold its 1 millionth B&W television.
- By 1978, Samsung had sold 4 million B&W television sets.
- In 1978, Samsung group enters into the semiconductor Market as Samsung semiconductor and telecommunication Co.
- In 1980, it began producing Air conditioners.
- In 1983, the company enters thr personal computer market and starts producing PC’s.
- In 1987, the death of Lee Byung-Chul followed Samsung group to separate into four business groups leaving it with electronics, engineering, construction and high-tech products.
- In 1988, Samsung develops first mobile handset.
- 1n 1993, Samsung began to focus on electronic, engineering and chemicals.
- In 1995, Samsung exports reach $ 10 billion.
- 1n 1998, flat screen television came into existence while achieving top share worlds TFT-LCD market.
- In 1999, Develops smartphone- wireless internet phone.
- In 2006, Sony partner with Samsung to develop the supply of LCD panels and became #1 in Global TV market share.
- 2009-2017, Evolution of Samsung Galaxy Note begins.
- 2018 , Samsung has collected a revenue of U.S.D 208.49 billion.
- In 2019, Samsung held its position of the second largest tablet vendor in the world accounting for around 4.5 million unit shipments in the Q2 of
2019 alone.
Samsung is one of the leading manufacturing companies in the world which employs more than 300 thousand people worldwide and spends about 17 billion U.S dollars on R&D every year. Samsung also ranks amongst companies with the most U.S patents granted.