- 1 Samsung
- 2 Early years
- 3 Electronics
- 4 The History of Samsung (1938-Present)
- 5 Samsung’s Beginnings
- 6 1960 to 1980
- 7 1980 to 2000
- 8 2000 to Present
- 9 [Infographic] 20 Things You Didn’t Know about Samsung
- 10 How Samsung Went From A Dried Fish Exporter To One Of The Top Names In Tech
- 11 Samsung Electronics started in 1969. That division mostly made TVs. Samsung’s first black and white TV went on sale in 1970.
- 12 Samsung expanded into even more fields in the 1970s, including petrochemicals. It also started making washing machines, refrigerators, and microwaves.
- 13 Samsung began to focus even more on electronics in the 1980s. The company began producing color TVs, personal computers, VCRs, and tape recorders. This was also the decade Samsung started exporting more of its products to North America.
- 14 In the early and mid-1990s, Samsung started producing memory and hard drives for use in personal computers. That’s still a big part of Samsung’s business today.
- 15 According to company legend, one of Samsung’s first mobile phones did not work when it came out in 1995. When Samsung’s chairman Kun-Hee Lee found out, he visited the factory where the phones were made and reportedly had the entire inventory burned.
- 16 After that initial slip up, Samsung began taking mobile more seriously by the late 1990s. It released one of its first Internet-ready phones in 1999. Mobile would eventually grow into Samsung’s most profitable business.
- 17 In the late 1990s, Samsung made more advances in television. It created the world’s first mass-produced digital TV in 1998. It had a full lineup of digital TVs by 1999.
- 18 Samsung began making HD TVs in the early 2000s. It went on to make Blu-Ray players and other home theater equipment. Today, Samsung makes some of the best HD TVs you can buy.
- 19 Samsung introduced its first flagship Android phone, the Galaxy S, at the Mobile World Congress in 2010. The phone is now in its third generation and regarded as one of the best smartphones you can buy.
- 20 Samsung released the Galaxy Tab in the fall of 2010. The 7-inch device was the first mainstream Android tablet.
- 21 And that brings us to today. Thanks in part to its marketing success and great products, Samsung makes more smartphones than any other competitor. And it continues to make all sorts of electronics and components. If it runs on electricity, Samsung probably makes it.
- 22 Samsung – Latest News on Samsung, Top News, Photos, Videos
- 23 Lee Kun-hee, Who Built Samsung Into a Global Giant, Dies at 78 (Published 2020)
- 24 Samsung Group Story – Profile, History, Founder, CEO, Revenue, Competition
- 25 History
- 26 Founder
- 27 Revenue
- 28 Competition
- 29 The Samsung story
- 30 Author information
- 31 About this article
One of the world’s major makers of electronic products is Samsung, a South Korean firm based in South Korea. In addition to consumer and industrial electronics, Samsung manufactures a wide range of semiconductors, memory chips, and integrated systems, as well as appliances, digital media devices, semiconductors, and memory chips. This company has grown to become one of the most famous companies in technology, and it accounts for around a fifth of all South Korean exports.
Lee Byung-Chull established Samsung as a food trade shop on March 1, 1938, in Seoul, South Korea. Beginning in Taegu, Korea, he traded noodles and other items manufactured in and around the city, then exported them to China and its provinces, eventually becoming a multimillion-dollar enterprise. (The company’s name, Samsung, is derived from the Korean word for “three stars.” The next year, Lee extended his firm into textiles, eventually establishing the largest woolen factory in the country. During World War II, he concentrated significantly on industrialisation with the purpose of assisting his nation in its post-war reconstruction.
A few years later, the corporation purchased three of Korea’s top commercial banks, as well as an insurance company, cement and fertilizer manufacturing companies, and other businesses.
When the corporation developed its textile-manufacturing methods in the 1970s, it was able to compete more effectively in the textile sector by covering the entire line of production, from raw materials to finished goods.
Additionally, the corporation began investing in the heavy, chemical, and petrochemical sectors during the same time period, putting the company on a potential development path.
Samsung began joined the electronics sector in 1969 with a number of subsidiaries that were mostly focused on electronics. Their earliest products were televisions that were only available in black and white. It was in the 1970s that the firm began to sell home electrical items to other countries. Samsung was already a prominent manufacturer in Korea at the time, and it had purchased a 50 percent ownership in Korea Semiconductor, which was a key competitor. The fast rise of Samsung’s technological industries began in the late 1970s and continued into the early 1980s.
It was created in 1985 to meet the rising need for system development among enterprises.
Samsung was able to swiftly establish itself as a leader in the information technology services industry as a result of this.
Two research and development institutes were established by Samsung, which expanded the company’s technological line into areas such as electronic devices and components, semiconductors, high-polymer chemicals, genetic engineering tools, telecommunications, aircraft, and nanotechnology.
The History of Samsung (1938-Present)
The Samsung Group is a conglomerate headquartered in South Korea that operates via a number of companies. In Korea, it is one of the most important companies, accounting for approximately one-fifth of the country’s total exports, with a major concentration on electronics, heavy industries (including steel), construction, and defense products. Insurance, advertising, and entertainment are just a few of the key companies owned by Samsung. Image courtesy of Jean Chung/Stringer/Getty Images
South Korean giant Samsung Group owns and operates a number of subsidiary companies. In Korea, it is one of the most important companies, accounting for approximately one-fifth of the country’s total exports, with a major concentration on electronics, heavy industries and construction, as well as military. Insurance, advertising, and entertainment are some of Samsung’s other key divisions. Getty Images / Jean Chung / Stringer /
1960 to 1980
Samsung made its foray into the electronics business in the 1960s with the development of various electronics-focused departments, including:
- Samsung Corning
- Samsung Electronics Devices
- Samsung SemiconductorTelecommunications
The time covered by this report includes the acquisition of DongBang Life Insurance and the establishment of Joong-Ang Development (now known as Samsung Everland). In addition, a cooperation between Samsung and Sanyo was established, opening the path for the development of televisions, microwaves, and other consumer devices. Samsung-Sanyo began manufacturing its first black and white televisions in 1970, and has since expanded its operations to include shipbuilding, petrochemicals, and aviation engines.
In 1978, the firm hit the milestone of producing 5 million televisions, which was a significant achievement.
Samsung Electronics America and the Suwon Research and Development Center were formed by the corporation in the late 1970s.
1980 to 2000
Joong-Ang Development was created during this time period, while Samsung purchased DongBang Life Insurance during this period (now known as Samsung Everland). Also in 2008, a cooperation between Samsung and Sanyo was established, clearing the path for the manufacturing of televisions, microwaves, and other consumer electronics. After producing its first black and white televisions in 1970, Samsung-Sanyo went on to diversify into shipbuilding, petrochemicals, and aerospace engines. Aside from transistor black and white TVs, Samsung also manufactured transistor color TVs, freezers, electric desk calculators, and air conditioners during the next decade.
SHI was one of the world’s largest shipbuilders by 1974, and the company was acquired by Samsung. Samsung Electronics America and the Suwon Research and Development Center were created in the late 1970s by the corporation.
2000 to Present
Samsung first entered the phone industry in 2001 with the SPH-1300, a prototype featuring a touch-screen that was introduced as an early touch-screen prototype. In 2005, the business also produced the world’s first speech-recognition phone. In the late 2000s and early 2010s, Samsung acquired firms that were developing technology for electronic devices at the time of the acquisition. Samsung debuted the Galaxy S II in 2011, followed by the Galaxy S III in 2012, which quickly became one of the world’s most popular smartphones.
Additionally, in the following years, the firm acquired organizations that would allow it to broaden its product offerings in areas like as medical technology, smart TVs, OLED displays, home automation, printing solutions, cloud computing, payment systems, and artificial intelligence.
By the end of 2015, Samsung had received more patent approvals in the United States than any other corporation, with more than 7,500 utility patents awarded before the year was over.
After announcing intentions to extend its renewable energy ambitions the next year, Samsung said that it will add 40,000 staff over the next three years.
[Infographic] 20 Things You Didn’t Know about Samsung
1. THE MEANING OF THE SAMSUNG LOGO: The term Samsung literally translates as “three stars” in Korean. The name was selected by Samsung founder Lee Byung-chull, who had a goal for his firm to become as powerful and long-lasting as the stars in the sky, and he picked it to reflect this. Although the three stars changed throughout time, they stayed as the corporate mark until 1993, when the present logo was established. 2. IMPROVED MANAGEMENT: A hotel in Frankfurt was the destination for Samsung’s chairman Lee Kun Hee’s stopover in Germany on a global trip in June of 1993.
- The most well-known quotation from the speech was “Change everything but your family,” which was followed by the phrase “change everything except your family.” During this time, Samsung has risen to become the world’s leading manufacturer of consumer electronics.
- The commitment to quality was first expressed in March 1995 by Samsung Chairman Lee Kun Hee, who was dissatisfied with the quality of Samsung products.
- He hoped this would help them better grasp the significance of quality.
- Since that day, we have concentrated our efforts on developing high-quality premium items that have achieved critical and commercial success across the world.
- With 236,000 people in 79 countries across the world, we are always looking for new and innovative solutions to solve issues and satisfy the demands of our customers.
- It has deployed 5,045 Regional Specialists across the world to promote global knowledge and cultural awareness throughout the organization.
- Aside from their regular duties, regional experts have several opportunities to learn about the culture, language, and customs of the nation they are assigned to.
SAMSUNG TELEPHONE AND THROUGH: THOUGH AND THROUGH: 90 percent of Samsung goods are manufactured entirely within the company’s own plants in order to assure the greatest possible quality.
Our links to the community are strong, as is our dedication to local investment and research and development initiatives.
It is our belief in the ability of the community to give opportunities and stimulate innovation.
REVENUES: Samsung generated $188 billion in sales in 2012.
A continuous focus on consumer electronics, as well as a strong push into new growth sectors including as enterprise sales and medical devices, will help the company achieve this goal.
THE SAMSUNG BRAND IDENTIFICATION: The Samsung brand was placed ninth on the Interbrand Best Global Brands list for 2012.
Our brand promise is to provide products and services that enhance the user’s experience and open up new possibilities – opportunities that are available to everyone, wherever.
We have been striving to develop new experiences for years and will continue to do so.
In 1999, we released the world’s first watch phone (the SPH-WP10), as well as the world’s first mp3 phone (the SCH-M210/SPH-M2500) and the world’s first TV phone (the SPH-WP10), all of which were firsts in their respective categories (SCH-M220).
THE NUMBER ONE SMARTPHONES: Our mission is to provide every customer with the greatest possible experience; as a result, we are always working to bring the most intuitive experiences – as well as the world’s top innovation and design – to the palm of their hands.
In January 2013, the original GALAXY S had sold 24.6 million copies, the GALAXY S II had sold over 40 million units, and the third-generation GALAXY S III had sold more than 40 million units.
I see it as a window, and through it, I may enter a world of novel experiences, discoveries, and potentialities.
We provide high-end televisions equipped with Smart Hubs that establish new benchmarks in terms of performance, usability, and design.
We manufacture key memory products, including dynamic random access memory (DRAM), static random access memory (SRAM), NAND flash memory, Solid State Drives (SSD) and a range of green memory solutions for use in PC, server and mobile applications.
We didn’t become the world’s largest electronics firm by convincing them that one size fits all was the best way to do business.
Research and development accounts for more than a quarter of our staff, and it is this persistent march ahead – investing in the new and unknown – that forms the foundation of our continued growth and success.
RESEARCH AND DEVELOPMENT CENTERS: There are 33 research and development centers located across the world.
When we design and develop our goods, we keep the demands of the local customer in mind.
No matter where people are in the world, we want to build goods that make their lives better, no matter where they are.
We also have a design center in South Korea, which is located in Seoul.
Patents: Our technology is about more than simply sharing information; it is a portal to new experiences; our products aren’t only functional; they are also assisting people in discovering things they never imagined were possible.
As a result, Samsung is the world’s leading patent holder in the design and mobile technology fields.
The result is items that empower our consumers to exhibit their own unique abilities and personalities via their use of them.
The S9 Ultra HD TV provides visual quality and detail that are unmatched in the industry.
The GALAXY Camera is the world’s first digital camera with 4G connectivity and an Android operating system.
Energy conservation and the use of environmentally friendly materials are also vital, as is the integration of cutting-edge technology with a dedication to social responsibility.
In order for you to save money and energy, we’re developing smarter products, such as phone displays that dim when you look away and washers that are designed to use cold water instead of hot.
According to the Dow Jones Sustainability Index, Samsung was named the world’s most sustainable technology business in 2011.
As a civilization, we are committed to the concept of shared responsibility – for our people, for our planet, and for our society.
Between 2009 and 2013, we will have invested $4.8 billion to eliminate 85 million tons of greenhouse gases, and greenhouse gas emissions from industry have been cut by 40% compared to levels in 2009.
TECHNOLOGIES OF THE FUTURE: Our passion is to provide individuals with innovative solutions that they had never imagined were available.
Nanotechnology, energy-environment, and biohealth are some of the topics covered.
It has the potential to open up a whole world of possibilities.
Furthermore, it has the ability to link people who are half a globe away.
Products and services are important to us, but they are not the most important thing. We think that technology has the potential to open the door to a whole new universe of possibilities.
How Samsung Went From A Dried Fish Exporter To One Of The Top Names In Tech
Samsung, a multinational corporation that manufactures everything from dishwashers to cellphones, has risen to become one of the most prominent and famous companies in the technology industry in the past year and a half. Many people consider Samsung to be on par with Apple, Facebook, Microsoft, Amazon, and Google when it comes to being one of the most significant technology firms in the world right now. As a result, how did Samsung get at its current position? A glance back at the firm’s history revealed that it began as a company that sold dried fish to China in 1938, and has grown into what it is now.
Samsung Electronics started in 1969. That division mostly made TVs. Samsung’s first black and white TV went on sale in 1970.
Official Samsung Company History, according to AP
Samsung expanded into even more fields in the 1970s, including petrochemicals. It also started making washing machines, refrigerators, and microwaves.
Official Samsung Company History, according to AP Source:
Samsung began to focus even more on electronics in the 1980s. The company began producing color TVs, personal computers, VCRs, and tape recorders. This was also the decade Samsung started exporting more of its products to North America.
Official Samsung Company History, according to AP.
In the early and mid-1990s, Samsung started producing memory and hard drives for use in personal computers. That’s still a big part of Samsung’s business today.
AP Source: Official Samsung Company History
According to company legend, one of Samsung’s first mobile phones did not work when it came out in 1995. When Samsung’s chairman Kun-Hee Lee found out, he visited the factory where the phones were made and reportedly had the entire inventory burned.
After that initial slip up, Samsung began taking mobile more seriously by the late 1990s. It released one of its first Internet-ready phones in 1999. Mobile would eventually grow into Samsung’s most profitable business.
Official Samsung Company History, according to AP
In the late 1990s, Samsung made more advances in television. It created the world’s first mass-produced digital TV in 1998. It had a full lineup of digital TVs by 1999.
Official Samsung Company History, according to AP Source:
Samsung began making HD TVs in the early 2000s. It went on to make Blu-Ray players and other home theater equipment. Today, Samsung makes some of the best HD TVs you can buy.
Official Samsung Company History, according to AP.
Samsung introduced its first flagship Android phone, the Galaxy S, at the Mobile World Congress in 2010. The phone is now in its third generation and regarded as one of the best smartphones you can buy.
a screenshot taken using a Samsung
Samsung released the Galaxy Tab in the fall of 2010. The 7-inch device was the first mainstream Android tablet.
Photo courtesy of Kevin Smith/Business Insider
And that brings us to today. Thanks in part to its marketing success and great products, Samsung makes more smartphones than any other competitor. And it continues to make all sorts of electronics and components. If it runs on electricity, Samsung probably makes it.
Photo courtesy of Kevin Smith/Business Insider Something is in the process of loading. More:SamsungFeatures A lightning bolt-shaped symbol is used to represent lightning. Especially for you
Samsung – Latest News on Samsung, Top News, Photos, Videos
Samsung is a South Korean multinational corporation that began as a supermarket trade firm in March 1938, founded by Lee Byung-Chull. In 1969, the firm made its first venture into the electronics market with the release of a black-and-white television, which was the company’s first electronic product. Soon after, the firm began to export its products as well, and it rose to become a prominent electronic producer in its own nation. In 1970, the corporation invested in Korea Semiconductor by purchasing a 50 percent interest.
- It was also during this period that the firm made investments in two research and development institutions, which assisted it in becoming the market leader in the field of information technology services.
- In 2000, Samsung made its first step into the mobile phone industry with the introduction of a feature phone that included a built-in camera capable of taking up to 20 photographs at a time.
- The business, in addition to cellphones, is also a significant manufacturer of tablet computers, notably the Android-powered Samsung Galaxy Tab-series, and is widely acknowledged as the inventor of the phablet category with its Samsung Galaxy Note-series devices.
- Apple, Sony, Nokia, and other big technology businesses rely on it as a significant provider of electrical items such as battery technology, semiconductors, chips, flash memory technology, and hard drives.
Additionally, Samsung has been the world’s largest maker of televisions since 2006, as well as the world’s top manufacturer of smartphones since 2011. In 2017, the business surpassed Intel to become the world’s largest maker of semiconductor chips, a position it has held since 2001.
Lee Kun-hee, Who Built Samsung Into a Global Giant, Dies at 78 (Published 2020)
Lee Kun-hee, the South Korean business magnate who built Samsung into a global leader in smartphones, televisions, and computer chips, but who was twice convicted — and, in a pattern that has become typical in South Korea, twice pardoned — for white-collar crimes committed along the way, died on Sunday in Seoul, the country’s capital. He was 81. He was 78 years old. Samsung announced the death but did not provide any other information. Mr. Lee has been unable to work since suffering a heart attack in 2014.
Lee took over as CEO of Samsung Group in 1987, following the death of his father and the conglomerate’s founder, Lee Byung-chull, many people in the West were familiar with the company’s electronics unit only as a manufacturer of low-cost televisions and unreliable microwaves sold in mass merchandise stores.
- By the early 1990s, Samsung had eclipsed its Japanese and American competitors to establish itself as the industry leader in memory chips.
- And, when smartphones evolved into high-capacity computing devices in the 2000s, it was able to capture the middle-to-high-end of the mobile market.
- It was he and his family members that leveraged a complex web of ownership structures to exercise control over the other firms that were part of the Samsung group.
- Lee remained Samsung’s big thinker and the supplier of broad strategic direction during his career, despite the fact that professional managers began to assume greater authority inside the organization.
- South Korea’s business dynasties are such a significant source of economic vigor that some South Koreans question whether the chaebol are keeping their country hostage to their own interests.
- Lee was convicted of bribing the president of the country in 1996, although he was later pardoned.
Lee shortly after the Pyeongchang Games.
Lee’s brother, Lee Myung-bak, served as South Korea’s president from 2008 to 2013.
Lee Kun-hee grew up in Japanese-occupied Korea.
Samsung originally gained prominence by dominating consumer basics such as sugar and textiles, which were in high demand in war-torn Korea.
In 1965, Lee Kun-hee received his bachelor’s degree from Waseda University in Tokyo.
He began his career with Samsung C T, the conglomerate’s construction and trade company, before being appointed vice chairman of the Samsung Group in 1979.
However, he injected a layer of existential terror and an ever-present sense of crisis that has persisted among Samsung’s top executives to this day.
Lee stated in an interview with Forbes shortly after taking over as CEO.
It became evident to him in 1993, when he gathered a large number of Samsung Electronics executives to a five-star hotel in Frankfurt to discuss the drastic transformation he had in mind.
“Change everything,” he said, “with the exception of your spouse and children.” Samsung, he declared, will devote its resources on enhancing product quality rather than expanding its market share.
All of this was considered taboo in the business world of South Korea at the time.
“It was very much like Mao Zedong trying to change the mindset of the Chinese people.” A faulty batch of smartphones was discovered at the Samsung plant in the town of Gumi, and he visited the facility as part of his efforts to improve quality in the company.
Samsung Electronics and the Struggle for Leadership of the Electronics Industry,” a book about the firm written by Tony Michell in 2010, describes how 2,000 workers at the Gumi facility were forced to meet in a courtyard and wear headbands labeled “Quality First.” Under a banner that said, “Quality Is My Pride,” Mr.
- In unison, they stood by and watched as more than $50 million worth of phones, fax machines, and other goods was destroyed and set burned.
- He established an automobile unit in the mid-1990s, believing that electronics would become a fundamental part of automobiles.
- A relationship with the entertainment industry was also short-lived.
- Lee was approached by Steven Spielberg over dinner in 1995 about the possibility of investing in a movie company.
- In my mind, I wondered: ‘How are they going to know anything about the film business if their entire lives are devoted to semiconductors?’ Mr.
I recall thinking to myself, “It was another one of those evenings that turned out to be a complete waste of time.” In the early 2000s, Samsung embarked on a campaign of global conquest, leveraging showy electronics and sophisticated marketing to cement the company’s reputation in the eyes of Western customers.
- Lee, on the other hand, was a man who was rarely seen in public.
- By 2007, he had foreseen the impending disaster that would confront Samsung.
- Companies from South Korea, including Samsung, were wedged between the two groups.
- As an alternative to defending himself against the allegations, he startled South Korea by announcing his resignation on national television.
- It is my sincere regret that I was unable to fulfill that pledge.” He was pardoned the next year and re-elected to the position of chairman of Samsung in 2010.
- Lee’s death from a heart attack in 2014, his son, Lee Jae-yong, the vice chairman of Samsung Electronics, assumed the role of the company’s public spokesperson.
He is survived by his wife, Hong Ra-hee, as well as his daughters Boo-jin and Seo-hyun, as well as his four sisters, Sook-hee, Soon-hee, Deok-hee, and Myung-hee, and his seven grandkids.
Samsung Group Story – Profile, History, Founder, CEO, Revenue, Competition
When the Korean War began in the early 1950s, Samsung almost didn’t get off the ground. Lee was forced to start from the ground up after the company’s tangible assets were wiped out by the disaster. It turned out that the post-war economy was favorable for the Samsung founder, since local demand for commodities, especially consumer electronics, soared during this time period. Samsung Electronics was founded in 1969, a year after the Korean War ended. Fast forward to now, and Samsung Electronics has risen to become the world’s largest electronics maker, surpassing Apple in the process.
- A wide range of products are available, from the 27-inch LED TV to the 85-inch QLED Smart 8K TV, and from the Top Freezer refrigerator to the 4-Door Flex refrigerator, as well as from the 2.5-hp WindFree air conditioner to the 5-hp Standing Inverter.
- Despite the fact that televisions, home appliances, and audio systems have all made significant contributions to Samsung Electronics, no other device has had such a profound impact on the whole electronics sector as the Galaxy phone.
- When Lee Kun-hee succeeded his father in 1987, the firm had grown into a full-scale conglomerate with operations in heavy equipment manufacture, financial services, engineering, information technology, and medical services, among other things.
- Despite the fact that Lee Byung-chul and Lee Kun-hee have since died away, their commitment with quality and innovation is what has enabled Samsung to remain a key driving force in the technology industry to this day.
- When Samsung Electronics was fighting against Motorola and HTC in the 1990s, Lee ordered the destruction of $50 million worth of gear in a single day, a move that saved the company millions.
- Samsung Group is based in Seoul and operates three huge campuses in and around South Korea’s capital: Samsung Digital City, Samsung Nano City, and Samsung Seoul R D Campus.
- On these three sites, around 73,000 people are employed.
Samsung’s humble roots date back to 1938, when Lee Byung-chul founded Samsung Sanghoe, a company that sold dried fish, veggies, and noodles to the public at large. Samsung Mulsan was established by Lee in 1948. Unfortunately, once the Korean War between North and South Korea started in 1950, he was forced to close down his company and relocate. After the war, Lee reconstructed what was left of Samsung Mulsan, and the company finally prospered. The company had just transformed into a “chaebol” (family-owned business conglomerate) and was beginning to diversify its revenue streams by selling insurance and securities.
- During this time period, its portfolio continued to develop.
- Samsung Electronics was established at that point.
- Several more types of assets were quickly added to the portfolio, including gas pipelines, drilling rigs, production facilities, support boats, and ferries.
- Lee died in 1987, and his youngest son, Lee Kun-hee, took over the family business as its new owner.
- By the 1990s, Samsung had begun its journey to the status of a major multinational conglomerate.
- In 1992, Samsung Electronics surpassed Intel to become the world’s largest memory chip manufacturer.
- In addition, the business introduced the first-ever Galaxy (GT-I7500 Galaxy) and Galaxy S phones in 2009 and 2010, respectively, which were also the first phones to be powered by the Android operating system.
- The Samsung Galaxy S4 was released in 2013 and went on to become the 9th best-selling smartphone of all time, with over 80 million devices sold over the course of its existence.
- In 2018, Samsung opened the world’s largest smartphone factory in Noida, India, which was the world’s largest at the time.
Most of Samsung Group’s subsidiaries had previously been listed on the South Korean stock exchange at approximately the same time. The stock of the Samsung Group is now traded on the London Stock Exchange (LSE) and the Luxembourg Stock Exchange, in addition to the Korea Exchange (KRX) (LuxSE).
Samsung may very well be the best-run family firm in the history of the planet. Despite the fact that the Lee family no longer has complete control over Samsung Group’s operations, they nevertheless occupy major roles inside the corporation. Samsung Electronics is headed by Lee Jae-yong, who also serves as Vice Chairman, while Samsung Everland/Cheul Industries is led by Lee Boo-jin and Lee Seo-hyun, who serve as Co-Presidents. Their parents are Lee Kun-children, hee’s and their grandparents are Lee Byung-grandchildren.
Kim Ki-nam is the youngest of the three.
According to Lee Kun-hee, “the design and other creative qualities of a company are the most important assets an enterprise possesses.” The meaning of these words has been largely determined by Samsung’s history, is presently being defined by Samsung’s present, and will most likely be defined by Samsung’s future.
Despite the fact that Samsung’s revenue numbers have fluctuated over the years, the company’s revenues are still measured in billions of dollars. Since 2005, Samsung’s revenue has never fallen below $69 billion, with the company achieving its highest-ever revenue numbers in 2017 ($222 billion), the most recent year for which data is available. In terms of net profit, Samsung earned $39 billion in 2018, which was the company’s highest-ever total profit. The electronics division of Samsung Group accounts for approximately 30% of the company’s total revenue.
Samsung Electronics, in particular, manufactures and distributes goods that are used in a variety of sectors. Samsung Electronics Apple, Huawei, Xiaomi, Oppo, LG, Sony, Intel, Panasonic, and Electrolux are just a few of the companies that compete with it on a regular basis. Samsung’s smartphone division generates the lion’s share of the company’s total revenue. Due in part to its development of powerful yet aesthetically pleasing smartphones for a variety of consumer categories, the business has been the world’s leading smartphone manufacturer for over a decade.
- Despite the fact that Apple is still the world’s most valuable premium smartphone brand, it has not been able to surpass the Samsung mobile brand in terms of worldwide revenues.
- With the exception of Samsung and Apple, Chinese smartphone manufacturers such as Huawei, Xiaomi, and Oppo are slowly but steadily gaining momentum in the market.
- In fact, Huawei has grown to be a more well-known brand in its native country than Samsung, with a 42 percent share of the local market.
- For their part, Chinese smartphone startups Xiaomi and Oppo have demonstrated that they can compete with the industry’s biggest players by shipping an impressive total of 28 million phones in the first three quarters of 2020.
- Electronics companies such as LG, Sony, Panasonic and Electrolux also hold significant market share in the global electronics sector.
- Samsung is presently the world’s leading television manufacturer, with a market share of more than 23 percent as of the third quarter of 2020.
- Another South Korean manufacturer, LG Electronics, is just behind Samsung in terms of quarterly sales, with its OLED TV frequently outpacing the QLED TV in terms of revenue.
- Although Panasonic, located in Japan, has seen its position in the electronics industry erode in recent years, demand for its high-definition LED and 4K Ultra HD televisions remains robust, particularly in the Asia-Pacific area.
- When it comes to washing machines, Electrolux, in particular, has regularly ranked at the top of the global sales charts.
Samsung has certainly gone a long way from its humble beginnings as a firm that sold shrimp and ramen. Samsung’s worldwide brand will continue to grow in size as long as it is defined by perseverance and invention, which it has been for many years.
The Samsung story
2020. 416 PP. $29 CURRENCY: 2020. Samsung was established in 1938 as a modest firm that specialized in the production of dried fish and noodles. Since its inception in the electronics sector in the late 1960s, Samsung has grown to become the world’s top maker of smartphones, TVs, and memory chips. Providing an exposé of this secretive firm, Geoffrey Cain’s Samsung Rising: The Inside Story of the South Korean Giant That Set Out to Beat Apple and Conquer Technology is available online. Cain, an American writer who has covered Samsung for more than 10 years, draws on interviews with business workers and market observers to examine the firm’s culture, products, triumphs, and failures.
- The book traces the growth of the global technological behemoth and analyses its impact on the international technology sector, as well as on South Korea’s politics and culture.
- Samsung is described as a “strange maze of a firm” by Cain, and his engrossing book reads like a dynasty novel, spanning three generations of the Lee family in South Korea.
- A graphical depiction of the Korean Hanja word Samsung served as the basis for the company’s first corporate logo, which included three stars.
- Samsung acted in a manner consistent with a conventional Japanese corporation, in which executives performed what they were instructed without question.
- In 1987, after a family feud over succession, Byung-chul was replaced by his third son, Lee Kun-hee, who took over the family business.
- In 2014, he was admitted to the hospital after suffering a heart attack, which caused him to go into a coma.
- During his interview, Cain shares some fascinating insights into the management and technology at Samsung.
Samsung’s leaders have been in and out of court due to allegations of tax evasion, financial mismanagement, evidence destruction, and improper stock sales, and Jae-yong was arrested in 2017 on charges related to a scandal involving South Korea’s then president, Park Geun-hye, according to the South Korean government.
- The company’s smartphone segment, where they presently have the largest worldwide market share, has been the company’s most significant success over the past decade.
- When battery problems led Galaxy Note 7 smartphones to catch fire in 2017, it created a serious safety threat for the general public and prompted recalls of the devices.
- Samsung and Apple are also discussed in Cain’s book, which is a study of their connection.
- Samsung went on to supply Apple with screens, CPUs, and other components, which were utilized in products such as the iPhone and iPad, among others.
- Apple alleged that Samsung had cloned the iPhone, resulting in a lengthy sequence of cases that were only eventually concluded in 2018, with Apple receiving a US$539 million settlement.
- Cain conducted more than 400 interviews for Samsung Rising, which included retired Samsung executives and aides, consultants, battery-explosion investigators, suppliers, distant relatives, and international veterans of the corporation.
- One of the most important aspects underlined by Cain is Samsung’s cultural power: the company’s technology permeates every part of South Korean life, and the nation is known as the ‘Republic of Samsung’ among many.
- Although there is a positive aspect to this connection, there is also a negative side that might expose the corporation to political manipulations that go beyond normal commercial norms and expectations.
Cain’s book is a must-read for everyone interested in learning more about the technological behemoth Samsung, as well as for anyone interested in learning more about chaebol corporate culture, management philosophy, and current technology.
- Ye Zhou is a professor at Shenzhen University’s Institute for Advanced Study in Shenzhen, China.
The following is a correspondence with Ye Zhou.
About this article
The Samsung logo and the company’s history are shown here. In terms of revenue, Samsung is among the world’s largest technological businesses, with a global turnover in the billions of dollars and hundreds of product lines to its name. According to Forbes, they were ranked as the 6th most valuable global brand for 2019, thanks in large part to the famous Samsung logo, which has a distinctive white text on a blue circular backdrop. Samsung’s emblem is instantly recognizable all over the world and is a sign of wealth and innovation for the company.
The Company’s Historical Background With its current worldwide reach, Samsung is a prominent global electronics manufacturer that has amassed a sizable share of the market in recent years.
How many people are aware of the fact that Samsung was originally established on the premise that it would become a food distributor rather than an electronics behemoth?
As the company evolved, its direction and look altered gradually – as did the now-famous Samsung emblem, which was created in 1958.
The logo is designed to seem nearly like a postage stamp, with fonts, colors, and style that suggest it is something the government would be interested with.
The phrase Samsung translates to ‘three stars’ in Korean, which is why the three stars were included in the initial logo design.
However, it is possible that the three stars represent his three sons, who were destined to inherit the company and help it grow into the global phenomenon that it is today.
Whatever the cause, the three stars logo quickly became a common sight in Korean society, where it was seen as a lucky and prophetic symbol.
By the middle of the twentieth century, Samsung was aiming to expand its product line beyond dried fish and noodle packs and into more substantial and profitable areas.
The outbreak of World War II.
The Korean government conducted a survey of the 30 most successful firms and rewarded them with lower taxes as well as more financing for industrial growth.
What about the design of the old-fashioned noodle and the agricultural inspiration?
The organization desired to revamp their emblem in order to better represent their most recent achievements in the technology and electronics industries.
Because of the logo’s worldwide appeal, they penned it in English, and the three stars were placed to the left of the typefaces to emphasize this.
In fact, the initial Samsung store was so modest that it didn’t even bother putting the company’s insignia on any of its packaging or products until 1958, just as the company’s business began to flourish in the early 1960s.
It had a rectangular form with a circle with three four-pointed stars in it, and the term ‘Samsung’ was written to the right of it in English, indicating that it was a new logo.
This new insignia consisted of three four-pointed stars within three somewhat squarish forms that were placed on top of each other to form a triangular shape.
The Samsung Logo is represented by a certain color.
Each one of them was a different shade of grey, black, or white that could be readily printed and decreased in size for any type of packing media.
Eventually, they opted to create a softer-looking picture by changing the typography of the logo from black to white and introducing the relaxing blue tint that we are all familiar with today’s version of the design.
After expanding into the English-speaking market, Samsung chose a straightforward, Helvetica-inspired sans-serif typeface that was all capitals and all caps.
The Factors That Influence Despite the Samsung’s apparent simplicity, every design feature was meticulously considered and prepared by a team of professional designers before being implemented.
As part of its open-mindedness and communication message, Samsung opted to leave a little portion of the letter “S” and the letter “G” open.
The evolution of the Samsung logo In the 1980s, the entire globe made the transition to color television, which meant that the entire world had to change as well.
Due to Samsung’s commitment to provide the world with what it desires, the logo could no longer be kept colorless and was instead transformed into a full Technicolor representation.
Three stars changed its logo look for the second time in 1993, which occurred the following year.
The world was changing; the 1990s witnessed a rise in technological businesses, and the internet transformed the entire world into a giant backyard party.
The world was changing once more, and the logo needed to evolve to keep up with the times.
The oval, the futuristic typeface, and the relaxing backdrop are all variations of the Samsung logo that we are all familiar with and appreciate.
Pay close attention to the letter ‘S,’ which was designed to appear to be spilling outside of the blue oval and into the vast expanse of outer space beyond the blue oval.
These design choices were selected consciously by the designers to represent Samsung’s openness to embrace the entire globe, as well as the prospect of technological advancement and perfection.
Although the firm originally intended for the logo to add the phrase ‘Electronics’ beneath the primary typeface, they ultimately opted for a more basic, less wordy design that only included the company name.
In conclusion, Samsung has progressed from a noodle provider to a supplier of 98-inch television screens in a very short period of time, and their profitability and market share have increased dramatically as a result.
On the subject of mountains, Kenton Cool, a British alpinist, was the first person to summit Mount Everest in 2011.
He published the following Twitter from the peak of Mount Everest, which is the highest point on the planet: “@KentonCool: Congratulations on reaching Everest peak number nine!
“Check out the fantastic Samsung Galaxy S2 smartphone!” After demonstrating to the world that their smartphone could normally work at an altitude of 29, 000 feet above sea level, Samsung had a very proud moment.
Another manner in which Samsung continues to advance the world of technology is through its iconic blue-and-white emblem, which has become a symbol of innovation and wealth as well as hard effort and good value for money.