Interesting Knowledge about Samsung

June 23, 2017

Interesting Knowledge about Samsung

Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group diversified into areas including food processing, textiles, insurance, securities and retail. Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth. Following Lee's death in 1987, Samsung was separated into four business groups – Samsung Group, Shinsegae Group, CJ Group and Hansol Group. Since 1990, Samsung has increasingly globalised its activities and Branded Cell Phones electronics; in particular, its mobile phones and semiconductors have become its most important source of income.

Notable Samsung industrial affiliates include Samsung Electronics (the world's 2nd largest information technology company measured by 2015 revenues, and 5th in market value), Samsung Heavy Industries (the world's 2nd largest shipbuilder measured by 2010 revenues), and Samsung Engineering and Samsung C&T (respectively the world's 13th and 36th largest construction companies). Other notable subsidiaries include Samsung Life Insurance (the world's 14th largest life insurance company), Samsung Everland (operator of Everland Resort, the oldest theme park in South Korea) and Cheil Worldwide (the world's 15th largest advertising agency measured by 2012 revenues).

Samsung has a powerful influence on South Korea's economic development, politics, media and culture and has been a major driving force behind the "Miracle on the Han River". Its affiliate companies produce around a fifth of South Korea's total exports New Cell Phones. Samsung's revenue was equal to 17% of South Korea's $1,082 billion GDP.

History of Samsung:

In 1938, Lee Byung-chull (1910–1987) of a large landowning family in the Uiryeong County moved to nearby Daegu city and founded Samsung Sanghoe. Samsung started out as a small trading company with forty employees located in Su-dong (now Ingyo-dong). It dealt in dried-fish, locally-grown groceries and noodles. The company prospered and Lee moved its head office to Seoul in 1947. When the Korean War broke out, he was forced to leave Seoul. He started a sugar refinery in Busan named Cheil Jedang. In 1954, Lee founded Cheil Mojik and built the plant in Samsung Phones Chimsan-dong, Daegu. It was the largest woollen mill ever in the country.

In 1947, Cho Hong-jai, the Hyosung group's founder, jointly invested in a new company called Samsung Mulsan Gongsa, or the Samsung Trading Corporation, with the Samsung's founder Lee Byung-chull. The trading firm grew to become the present-day Samsung C&T Corporation. After a few years, Cho and Lee separated due to differences in management style. Cho wanted a 30 equity share. Samsung Group was separated into Samsung Group and Hyosung Group, Hankook Tire and other businesses.

In the late 1960s, Samsung Group entered the electronics industry. It formed several electronics-related divisions, such as Samsung Electronics Devices, Samsung Electro-Mechanics, Samsung Corning and Samsung Semiconductor & Telecommunications, and made Mobiles the facility in Suwon. Its first product was a black-and-white television set.

Samsung started to rise as an international corporation in the 1990s. Samsung's construction branch was awarded contracts to build one of the two Petronas Towers in Malaysia, Taipei 101 in Taiwan and the Burj Khalifa in United Arab Emirates. In 1993, Lee Kun-hee sold off ten of Samsung Group's subsidiaries, downsized the company, and merged other operations to concentrate on three industries: electronics, engineering and chemicals. In 1996, the Samsung Group reacquired the Sungkyunkwan University foundation.

Samsung became the world's largest producer of memory chips in 1992 and is the world's second-largest chipmaker after Intel (see Worldwide Top 20 Semiconductor Market Share Ranking Year by Year). In 1995, it created its first liquid-crystal display screen. Ten years later, Samsung grew to be the world's largest manufacturer of liquid-crystal display panels. Sony, which had not invested in large-size TFT-LCDs, contacted Samsung to cooperate, and, Cell Phones in 2006, S-LCD was established as a joint venture between Samsung and Sony in order to provide a stable supply of LCD panels for both manufacturers.

In 2000, Samsung opened a computer programming laboratory in Warsaw, Poland. Its work began with set-top-box technology before moving into digital TV and Smartphone. As of 2011, the Warsaw base is Samsung's most important R&D center in Europe, forecast to be recruiting 400 new-hires per year by the end of 2013.

In first quarter of 2012, Samsung Electronics became the world's largest mobile phone maker by unit sales, overtaking Nokia, which had been the market leader since 1998. On 21 August's edition of the Austin American-Statesman, Samsung confirmed plans to spend 3 to 4 billion dollars converting half of its Austin chip manufacturing plant to a more profitable chip.[36] The conversion should start in early 2013 with production on line by the end of 2013. On 14 March 2013, Samsung unveiled the Galaxy S4.

In May 2014, Samsung announced it will be shutting down its streaming service on 1 July 2014, also meaning the end of the Samsung Music Hub app that typically comes installed on its Android phones.

On 3 September 2014, Samsung announced Gear VR, a virtual reality device in collaboration with Oculus VR and developed for the Galaxy Note 4.

In October 2014, Samsung announced a $14.7 billion investment to build a chip plant in South Korea. Construction will begin next year with production beginning in 2017. The company has not yet decided the type of chips to be produced Branded Cell Phones.

Samsung plans to launch a new set of services beginning early 2015. The goal of this new suite of business offerings, dubbed Samsung 360 Services, is to become a help desk of sorts for businesses IT departments. The customizable services range from technical support to security solutions for having a Samsung employee embedded in a client's business as an on-site support manager or technology consultant.

In January 2016, Samsung announced it will be working with Microsoft to develop IoT devices based on Windows 10, where the companies will work together to develop products that will run on the platform, as well as integrate with other companies developing hardware and services on Microsoft's OS.

On 2 August 2016, Samsung unveiled the Galaxy Note7 Smartphone, which went on sale on 19 August 2016. However, in early September 2016, Samsung suspended sales of the phone and announced an informal recall. This occurred after some units of the phones had batteries with a defect that caused them to produce excessive heat, New Cell Phones leading to fires and explosions. Samsung replaced the recalled units of the phones with a new version; however, it was later discovered that the new version of the Galaxy Note7 also had the battery defect. Samsung recalled all Galaxy Note7 Smartphone worldwide on 10 October 2016, and permanently ended production of the phone the following day.