Brief history of Samsung
On March 1, 1938, the founding chairman Byung-Chull Lee started a business in Daegu, Korea, which concentrated primarily on trade export, selling dried Korean fish, vegetables, and fruit to Manchuria and Beijing. Samsung means “three stars” in Korean, the name resonating with the founders’ vision for the company to become powerful and everlasting like stars in the sky.
After a decade the company grew in size, possessing its own flour mills and confectionery machines, also thriving independently with its own manufacturing and sales operations. It was not until January 13, 1969 that Samsung Electronics was born. By November 1970, Samsung succeed in producing 12-inch black-and-white TVs, and just two months after the production it exported the TV sets to Panama.
From these humble beginnings, Samsung has ultimately evolved into a chaebol (conglomerate), a family-controlled, Government-assisted, multinational with its business diversity ranging from consumer appliance, consumer electronics, semi-conductor solution as well as health and medical equipment. The Samsung Group is now the world’s largest electronic company, in terms of revenues, also leading the global electrical components market (LCD, plasma and OLED displays).
Since 2009, Samsung has been the world’s largest information technology company by revenue with a recent estimated Q2, 2015 revenue of $41.5billion. They are also the world’s largest manufacturer of mobile phones and smartphones fueled by the popularity of its Samsung Galaxy line of devices.
Also, since 2002 Samsung Electronics has been the world’s largest manufacturer of LCD panels and the world’s largest television manufacturer since 2006, displacing Apple Inc. as the world’s largest technology company in 2011.
Samsung prides itself of a lot of achievements, particularly for its ethical values. The brand is known to have won awards from USA Environmental Protection Agency for outstanding leadership and commitment to energy efficiency in the highest energy star honor in 2014. They were also recognized for excellent work in communicating the importance of the prevention of climate change through energy efficiency. The brand has also been acknowledged for their continued commitment to helping keep batteries out of the waste stream from Call2Recycle Award.
Key Brand Fact
The brand focuses on four sectors: Digital Media, Semiconductor, Telecommunication Network, and LCD Digital Appliances.
The digital-media business area covers computer devices such as laptop computers and laser printers; digital displays such as televisions and computer monitors; and consumer entertainment devices such as DVD players, MP3 players and digital camcorders; and home appliances such as refrigerators, air conditioners, air purifiers, washers, microwave ovens, and vacuum cleaners.
The semiconductor-business area includes semiconductor chips such as SDRAM, SRAM, NAND flash memory; smart cards; mobile application processors; mobile TV receivers; RF transceivers; CMOS Image sensors, Smart Card IC, MP3 IC, DVD/Blu-ray Disc/HD DVD Player SOC and multi-chip package (MCP); and storage devices.
The telecommunication-network-business area includes multi-service DSLAMs and fax machines; cellular devices such as mobile phones, PDA phones, and hybrid devices called mobile intelligent terminals (MITs); and satellite receivers.
The LCD business area focuses on producing TFT-LCD and organic light-emitting diode (OLED) panels for laptops, desktop monitors, and televisions.
To ensure the highest quality products, their products are all manufactured internally in their factories.
In 2012, Samsung was ranked as the 9th most valuable global brand by the Interbrand Top Global Brand list. Research has it that 1/3 of the smartphones sold in the world are Samsung products, 1000 Samsung television sets are sold every minute, 70% of the world’s smartphones use DRAM made by Samsung.
Samsung has been a powerful influence on South Korea’s economic development (with a revenue of $195.88 billion made in 2014), politics, media and culture, and been a major driving force behind the “Miracle on the Han River”. With the highly anticipate introduction of the Samsung Galaxy S7 in 2016, it is sure that Samsung would continue to instill its brand culture and beliefs into the heart of consumers, soaring higher and truly aiming to become powerful and everlasting like stars in the sky.
Make it sleek, make it sexy
…Undoubtedly, big things often have small beginnings