History of Samsung – How it all began
Samsung is a South Korean chaebol, or conglomerate, with total assets of US$282 billion as of 2018. It is the largest chaebol in the world and among the top five most valuable business entities in the world. Samsung was founded in 1938 by Lee Byung-chul, a textile merchant who had lost his father in the 1923 Great Kanto Earthquake.
In 1938, Lee Byung-chul started an import company called Cheil Jedang and made a small profit. After World War II, he started a new business called Samsung (meaning “three stars”) that manufactured washing machines. In 1958, he merged his two businesses into Samsung Electronics and started to become one of the largest conglomerates in Korea.
Samsung entered the global market in the 1970s with sales of televisions and radios. Since then, it has gone on to become one of the world’s leading manufacturers of mobile phones (including smartphones), memory chips, flat-panel displays, semiconductors, and other electronics products.
The Early Years
Samsung was founded in 1938 by two businessmen, Lee Byung-Chul and Lee Kun-Hee. The company produced electrical appliances and began making radios in the early 1950s. Samsung entered the semiconductor business in the late 1970s and became a major player in the global electronics industry.
In 1993, Samsung acquired Sharp Corporation, a Japanese electronics manufacturer. In 1997, Samsung merged with Sanyo Electric Corporation to form Samsung Electronics Co., Ltd. Today, Samsung is one of the world’s largest electronics companies with annual sales of over $200 billion.
Samsung has been involved in a number of controversies over the years, but it has also been responsible for some major technological advancements, including the development of semiconductor devices and flat-panel displays.
In 2006, Samsung became the world’s largest maker of mobile phones, overtaking Nokia. Today, Samsung produces smartphones, tablet computers, smart TVs, digital cameras, air conditioners and other appliances.
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The Growth of Samsung
Samsung began as a small trading company in 1938. During World War II, the company supplied parts and materials to the military. After the war, Samsung began to produce consumer electronics, such as radios and TVs. The company’s first major product was the Samsung SC-50 TV, which was released in 1954.
In 1959, Samsung entered into a joint venture with Sony to create Sony Samsung TVs. In 1960, Samsung became a publicly traded company. In 1969, Samsung acquired General Electric’s semiconductor plant in South Korea. In 1982, Samsung released its first computer, the Galaxy S. In 1984, Samsung created its own semiconductor plants in South Korea and Taiwan. In 1988, Samsung acquired Philips’ semiconductor business in South Korea.
In 1992, Samsung founded SDSC (Samsung Development System Company), which develops software for the mobile industry. In 1995, Samsung purchased a 24% stake in French computer manufacturer Compaq Computer Corporation. That same year, Samsung started producing digital cameras. In 1997, Samsung built its first production line for DVD players. In 1999, Samsung acquired R&D operations of camera manufacturer Casio from Matsushita Electric Industrial Co., Ltd.. That same year, the company began producing mobile phones with touch screens.
The Leadership of Samsung
Samsung has had a long and varied history, with many leaders and moments that have helped to shape the company today. Here is a look at some of the key figures who have led Samsung through its ups and downs.
Lee Byung-Chul – Founder and CEO
Lee founded Samsung in 1938 as a trading company, initially selling pine nuts and other agricultural produce. In 1959, he began producing TVs under the Samsung brand name. Over the years, Lee has led Samsung through several transformations, including its move into electronics and heavy industries.
He has also been instrumental in nurturing the company’s international presence, helping to establish Samsung as one of the world’s leading manufacturers. Under his leadership, Samsung has become one of South Korea’s leading economic entities.
John Sohn – CTO and President of R&D
Sohn joined Samsung in 1987 as an engineer and rapidly rose through the ranks. He was appointed CTO in 2006 and became president of R&D in 2012. Under Sohn’s leadership, Samsung has invested heavily in cutting-edge research and development capabilities, which have helped the company stay ahead of its competitors in terms of innovation.
Conclusion
Samsung is one of the most well-known electronics companies in the world. With a rich history dating back to 1938, Samsung has come a long way since then. In this article, we will explore some of the key moments in Samsung’s history and how they have shaped the company today. From its humble beginnings as a trading company to becoming one of the world’s leading technology companies, read on to learn more about Samsung’s fascinating story.
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