Samsung : South Korean Multinational Aggregate Company

Over the past 20 years Samsung changed from a low-cost original equipment manufacturer to a world leader in research and development, marketing strategy and design. It is clear that this article was written to tell the readers about the background leading to the success of Samsung today.

Samsung is a South Korean multinational company which is headquartered in Seoul, South Korea. It has number of businesses under its own brand name. Samsung was founded by Lee Byung-chul in 1938.

Today Samsung has evolved into a group of companies unmatched by others in its range of industries and performance. It is now globally focused and responsive to the needs of each market, and more committed than ever to true innovation. The group’s three core business sectors are electronics, finance and trade and services.

From 1958 onwards Samsung began to expand into other industries such as financial, media, chemicals and ship building throughout the 1970's. In 1969, Samsung Electronics was established producing what Samsung is most famous for, Televisions, Mobile Phones (throughout 90's), Radio's, Computer components and other electronics devices.

Samsung Company: Samsung was founded by Lee Byung-Chul in 1938 as a trading company. Those competencies for creating innovative items and enhancing market effort. To attain this, we need aid upgrading the competitive edge the competitive edge of our business by reorganizing our production network, strengthening our R&D department, and expanding our high-end product line-ups. Moreover, expansion profitability, we are additionally contributing to the improvement of premium appliances in the side-by-side refrigerator, cooling system and washing machine segments, same time underscoring our duty on personal satisfaction. As a business sector leader company committed to continually strengthening their competence in both the built-in appliance and home network markets.

From a small export business in Taegu, South Korea, Samsung’s innovative and top quality products and processes has brought them to be one of the world’s leading electronic companies. Lee Byung-chul was the founder of the Samsung and also one of South Korea’s most successful businessmen. Now, Samsung is South Korea’s largest business group that is ran by Lee’s family which is known as a chaebol based company. In the late 1960’s, Samsung entered the electronics industry. In 1980, Samsung entered the telecommunications hardware which caused the facility to be developed into a telephone and fax manufacturing system and eventually became the center of Samsung’s mobile phone manufacturing. From the beginning and to the end, Samsung has reached outside its boundaries, making it successful and continuing to grow and prosper.

Company Background: Samsung is a South Korean multinational company those starting its business as a small trading company and right now becoming world largest corporation. The company deals with its business in several sectors such as advance technology, finance, petrochemical, semiconductors, plant construction, skyscraper, medicine, fashion, hotels, chemical and others. The company was established in 1969 in Suwon, South Korea and known globally for its electronic products (Kelly, 2011). The company is manufacturing several latest technologies, electronic appliances such as mobile phones, tablets, laptops, TVs, refrigerators, air conditioners, washers and other products. The company runs its operations and sales its products in 61 countries with approx 160,000 employees in all over the world (SAMSUNG, 2014). Moreover, the company acquired the position of the world biggest IT maker in 2009 by beating the Hewlett-Packard (HP) previous leader. Its sales revenue in the segment of LCD and LED is the highest in the world. Furthermore, Samsung also becomes world leader in the segment of tablets, mobile phones and gadgets.

Samsung Company is a world leader in digital technology innovation. Samsung believes in innovation and continue to look after the new technology to grow their business. I believed that company wanted to build a market in which customers are more loyal to the Samsung brand and trust in the name of Samsung.

Samsung has been in the business for over 70 years, it is a company which is considered to diversify its business ranging from mobile phones to washing machines, TV’s to microwave, all kinds of home appliances to the most modern worldly technology needs of human kind. Samsung is a $160 billion company. Through research, reliability and a talented workforce, Samsung is able to provide technological solutions for our everyday lives. Samsung is known for its TVs however they have penetrated into the mobile phone market. They have come up with creative technology such as the Smart TV and Smart Camera. They continue to invest heavily into their research and development so that they can produce products that are efficient and

17,000 scientists, engineers, and designers worked in Samsung’s R&D centers, costing $2.45 billion annually. Developed pillar products which increased marketing support ‘World-first’ products in their respective industries

1. Samsung is the third biggest South Korean corporation which was launched in the year 1969 as the Flagship Corporation of the Samsung Corporation and also Samsung business. Samsung gets fast enlargement through exports. And also Samsung chooses to undertaking into the TV market. It begins manufacture of black as well as white TV sets for the

Samsung is a leading smartphone maker in the world and is a South-Korean multinational aggregate company embraces numerous subsidiaries and affiliated businesses. The company is headquartered in Samsung town, Seoul and was founded by Lee Byung-chul in 1938 as an exchanging organization. The company has expanded itself in the areas including food processing, textiles, insurance, securities and retail during the last 30 years. The company entered into the electronics business in the late 1960s and advanced as a brand providing quality products such as washing machine, television, mobile phones, laptops et cetera. In the present period Samsung has its finished focus on its cell phones that is most honorable item in the business and with the headway of innovation the brand has differentiated its item scope of cell phone from the lavish ones to the moderate value ran PDAs.(Wikipedia, n.d.).

Lee Byung-Chul founded Samsung in 1938. It started as a small trading company with forty employees, located in Seoul. The company did fairly well until the Communist invasion in 1950 which caused great damage to his inventories. He was forced to leave and start over in Suwon in 1951. In just a year, the company’s assets had grown twentyfold. In 1953, Lee created a sugar refinery—the South Korea’s first manufacturing facility after the Korean War. “The company prospered under Lee’s philosophy of making

Through innovative, reliable products and services; talented people; a responsible approach to business and global citizenship; and collaboration with our partners and customers, Samsung is taking the world in imaginative new directions.

Samsung has evolved as a world’s leading brand resonating with the global leadership and success ladder. It is the world’s topmost leader in smartphone production, second leader as a technological organization and a brand that is ranked among top ten of the world. The diverse perspectives, cutting-edge technologies, innovation, and bold investments are the catalysts for growth and tremendous success. This South Korean electronics multinational paved its path as a subsidiary of Samsung group from 1969. There are a plethora of products such as batteries, semiconductors, hard drives, televisions, air conditioners and smartphone being manufactured by the company. Samsung electronics is spread across 80 countries and has developed a reputation by emphasizing on innovation in its management strategies.