First Attem to know About Samsung
Samsung
Group is a South Korean multinational conglomerate based in Samsung Town,
Seoul. It includes many affiliated companies, most united under the
Samsung brand, and is South Korea's largest chaebol (conglomerate business).
Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group has diversified into areas such as food processing, textiles, insurance, securities and retail. Samsung entered the electronics industry in the late 1960s and in the construction and shipbuilding industries in the mid-1970s; these areas would lead to greater growth. After Lee's death in 1987, Samsung split into four groups: Samsung Group, Shinsegae Group, CJ Group and Hansol Group. Since 1990, Samsung has increasingly globalized its electronic products and activities; in particular, their mobile phones and semiconductors have become the most important source of income.
Samsung's outstanding industrial subsidiaries include Samsung Electronics (the world's second-largest information technology company, measured by revenue in 2015 and fifth in market value), Samsung Heavy Industries (the world's second largest shipbuilder in 2010) and Samsung Engineering and Samsung C & T (the 13th and 36th largest construction companies in the world, respectively). Other prominent companies are Samsung Life Insurance (the world's largest life insurance company), Samsung Everland (operator of Everland Resort, Korea's oldest amusement park) and Cheil Worldwide (the 15th largest world as measured by revenues in 2012).
Samsung has a powerful influence on the economic development, politics, media and culture of South Korea and has been one of the main driving forces behind the "Miracle on the Han River". Its affiliates account for about a fifth of South Korea's total exports. Samsung's turnover was equal to 17% of South Korea's GDP of $ 1.082 billion.Samsung has diversified into many different areas. Lee has tried to establish Samsung as a leader in a wide range of industries. Samsung has moved to business lines such as insurance, securities and retail. President Park Chung Hee attached great importance to industrialization. It has concentrated its economic development strategy on a handful of large national conglomerates, protecting them from competition and helping them financially.
In
1947, Cho Hong-jai, founder of the Hyosung Group, invested jointly in a new
company called Samsung Mulsan Gongsa, or Samsung Trading Corporation, with
Samsung founder Lee Byung-chull. The trading company became the current
company Samsung C & T Corporation. After a few years, Cho and Lee split
because of differences in management style. Cho wanted a share of 30 shares. Samsung
Group has separated into Samsung Group and Hyosung Group, Hankook Tire and
other companies.Samsung became the world's largest producer of memory chips in
1992 and is the world's second largest chip maker after Intel (see global
segmentation of semiconductors per year). In 1995, he created his first liquid
crystal display. Ten years later, Samsung has become the world's largest
manufacturer of liquid crystal display panels. Sony, which had not invested in
large LCD TFT screens, contacted Samsung to cooperate and in 2006, S-LCD was
created as a joint venture between Samsung and Sony to provide a stable supply
of LCD panels for both manufacturers. S-LCD was owned by Samsung (50% plus one
share) and Sony (50% minus one share) and operates its factories and facilities
in Tangjung, South Korea. Since December 26, 2011, it has been announced that
Samsung has acquired Sony's interest in this joint venture.
In January 2016, Samsung announced that it will work with Microsoft to develop IoT devices based on Windows 10, where companies will work together to develop products that will work on the platform and integrate with other companies that develop hardware and services in Microsoft OS.Samsung has launched a smartwatch called "Gear Fit 2" and a brand of wireless headset called Gear Icon X.On August 2, 2016, Samsung unveiled the Galaxy Note7 smartphone, which went on sale on August 19, 2016. However, in early September 2016, Samsung suspended phone sales and announced an informal recall. This happened after some units of the phones had a battery.
