History of Samsung Essay Example For Students

History of Samsung Essay 1. Samsung History Unlike other electronic companies Samsung origins were not involving electronics but other products. In 1938 the Samsungs founder Byung-Chull Lee set up a trade export company in Korea, selling fish, vegetables, and fruit to China. Within a decade Samusng had flour mills and confectionary machines and became a co-operation in 1951. Humble beginnings. From 1958 onwards Samsung began to expand into other industries such as financial, media, chemicals and ship building throughout the 1970s. In 1969, Samsung Electronics was established producing what Samsung is most famous for, Televisions, Mobile Phones (throughout 90s), Radios, Computer components and other electronics devices. 1987 founder and chairman, Byung-Chull Lee passed away and Kun-Hee Lee took over as chairman. In the 1990s Samsung began to expand globally building factories in the US, Britain, Germany, Thailand, Mexico, Spain and China until 1997. In 1997 nearly all Korean businesses shrunk in size and Samsung was no exception. They sold businesses to relieve debt and cut employees down lowering personnel by 50,000. But thanks to the electronic industry they managed to curb this and continue to grow. The history of Samsung and mobile phones stretches back to over 10 years. In 1993 Samsung developed the lightest mobile phone of its era. The SCH-800 and it was available on CDMA networks. Then they developed smart phones and a phone combined mp3 player towards the end of the 20th century. To this date Samsung are dedicated to the 3G industry. Making video,camera phones at a speed to keep up with consumer demand. Samsung has made steady growth in the mobile industry and are currently second but competitor Nokia is ahead with more than 100% increase in shares. 2. Thinking Global: Samsung’s Growing Success Samsung is one of the world’s largest technology providers. It started out as trading company exporting various products from South Korea to Beijing, China. Founded by Lee Byung-chul in 1938, Samsung gradually developed into the multinational corporation that it is today. The word Samsung means â€Å"three stars† in Korean. It became the name associated with different types of business establishments in South Korea and in various parts of the world. Internationally, people associate the name with electronics, information technology and development. In 1969, Samsung Electronics was born. From there, the company started acquiring and creating different business establishments including a hospital, paper manufacturing plant, life insurance company, department stores and many others. The company was destined to become a household name starting in its mother country and spanning its reach to many other cities internationally. Samsung Electronics started catering to the international market in the seventies kicking off with the corporation’s acquisition of half of Korea Semiconductor which made it the leading electronics manufacturer in the country. The success of Samsung as a technology provider continues to grow through the eighties as Samsung Electronics was merged with Samsung Semiconductors and Telecommunications. This paved the way towards a stronger hold on the international market with high-tech products that will become a staple in every home. This development continued on through the next decade as Samsung kept on going beyond its boundaries and restructuring its business plan to accommodate the global scene. Adopting a new form of management proved to be a wise move for the company as its products made their way on the list of top must-haves in their various fields. TV-LCD’s, picture tubes, and other high-tech products became popular acquisitions due to their high quality. When Samsung ventured into the LCD industry in 1993, it became the world’s best. The company’s excellent method of quality control is what makes it successful in providing only the best products to the whole world. It applies a â€Å"Line Stop† system wherein anybody can stop the process of production in the event that substandard products are discovered. Even when the whole of Korea experienced a terrible economic decline in 1997, Samsung was still able to cope with the changes. While it had its own share of suffering by being forced to restructure the whole corporation and release ten companies under its umbrella, it was still able to stand up and enjoy development. To date, Samsung continues to maintain its status as the â€Å"world’s best† technology provider. Its highly qualified workforce is still striving for excellence in their respective fields making the whole company a huge success in the making. The secret to the company’s continuous success is in the constant improvement of its management structure and the application of its philosophies: â€Å"We will devote our human resources and technology to create superior products and services, thereby contributing to a better global society. † 3. History- Samsung Group The building of Samsung Sanghoe in Daegu in the 1938s In 1938, Lee Byung-chull (1910–1987) of the large landowning family in the Uiryeong county came to the nearby Daegu city and founded Samsung Sanghoe ( ), a small trading company with forty employees located in Su-dong (now Ingyo-dong). It dealt in green-grocery and dried fish produced in and around the city, and the noodles, Byeolpyo Guksu produced itself. The company prospered and Lee moved its head office to Seoul in 1947. When the Korean War broke out, however, he was forced to leave Seoul and started a sugar refinery in Busan as a name of Cheil Jedang. It was the first South Korean sugar manufacturing facility. After the war, in 1954, Lee founded Cheil Mojik and built the plant in Chimsan-dong, Daegu. It was the largest woolen mill ever in the country and the company took on an aspect of a major company. Samsungs diversified into many areas and Lee sought to establish Samsung as an industry leader in a wide range of enterprises. The company started moving into businesses such as insurance, securities, and retail. South Korean President Park Chung-hee’s regime during the 1960s and 1970s would prove a boon for Samsung. Park placed great importance on industrialization, and focused his economic development strategy on a handful of large domestic conglomerates, protecting them from competition and assisting them financially. Samsung was one of these companies. Park banned several foreign companies from selling consumer electronics in South Korea in order to protect Samsung from foreign competition and nurture an electronics manufacturing sector that was in its infancy. In the late 1960s, Samsung Group began the electronics industry. Blah EssayAnd then Samsung entered the production of home electronics business apart from the semiconductor manufacturing industry it acquired hereafter. The Samsung Mobile Phones Kick Off It has no doubt that Samsung became diversified when it comes to products and services. However, the breakthrough of Samsung products became sensationalized when it entered once again the telecommunications industry. It has become known for its innovations and was proclaimed as the worlds second largest vendor of mobile phones. Though Samsung Electronics has gained corporate affairs in other business areas such as the digital media, the semiconductors, the LCD, and the digital appliance, the telecommunication network business area of Samsung became a record breaker. Samsung has been producing cellular devices that include mobile phones, PDA phones, and the most innovative of them all the Mobile Intelligent Terminals which are considered hybrid devices. Even satellite receivers became a part of Samsungs telecommunication network. Samsung and its mobile phone deals have successfully laid its foundation in becoming a world class company in the previous years. In 2006 alone, it has achieved the following accomplishments for mobile phones production and innovation: o Developed the worlds first ever OneDRAMTM o 10 million sales record breaker in the United States for mobile phones o Introduced the 10M pixel for camera mobile phones o Revealed the fastest HSDPA phone and system in the world o Commenced and completed the manufacturing plant in India for mobile phones The present line up of Samsung mobile phones which comes with excellent mobile phone deals include the most beautiful technology mobiles namely: SGH-E950, SGH-E840, and SGH-J600. he latest luxurious mobile phones introduced in Singapore are known for its stylish designs, innovative and excellent features, that all comes with high-tech multimedia features. The striking designs and uncompromising features, functions, and performances of Samsung mobile phones will continue to rule the mobile phone industry around the world. 5. Brief History of the Samsung Company Samsung is a Korean company that has risen to prominence in many fields over the years. The size and the scope of the company is almost unimaginable, as they are one of the largest and most diverse companies in the world. While the company is mostly known for their technology division they have many other divisions as well. The company has expanded from a humble storefront launched in the late 1930s to the largest company in Korea and the second largest company in the world. In addition to the electronics division, which is the most profitable and successful one in the world, the company also has forayed into finance, chemicals, retail, and straight-up entertainment all with great degrees of uccess. The company employs many of South Koreas finest employees, including many with PHD level education. This is not surprising, seeing as the companys assets total somewhere around $300 billion. The company has some of the most loyal employees around and many work every day that means no holiday time off or weekends both because they want to and it is expected. The company was once even larger than it is now, but the government, concerned about the power that the company amassed, required the company to dr op some of its sub-divisions. Because the company is so large and powerful, they have been accused of bankrupting some other companies or worse, making the market so that other companies dont stand a chance at the start. They are also very much so the leader in electronic components that other companies use to build products and as such, can control the market value and inflate prices at will. This is why the government stepped in and attempted to somewhat limit the huge conglomerates power and scope. However, it is important to note that the company is responsible for at least 1/5 of the countrys exports. As a result, they are in a position of power because of the money they supply to the government. Additionally, their vast number of employees are essential to the countrys economy. The company has been around for quite some time, and although there has been some controversy about their strength and power in South Korea, there is no denying that they benefit the economy greatly by providing jobs, exporting their services, and otherwise doing things that smaller companies would not be equipped to do. Samsung is a powerhouse of a company, with many people worldwide using their products, particularly the electronics such as cell phones and MP3 players. Its not surprising that the company continues to thrive in the ways it does. 6. Samsung History Samsung Group Timeline and History Samsung’s beginnings (1938 ~ 1969) On March 1, 1938, founding chairman Byung-Chull Lee started a business in Taegu, Korea with 30,000 won. At first, Mr. Lees little business was primarily in trade export, selling dried Korean fish, vegetables, and fruit to Manchuria and Beijing. But in just over a decade, SAMSUNG meaning literally three stars in Korean would have its own flour mills and confectionery machines, its own manufacturing and sales operations, and ultimately become the roots of the modern global corporation that still bears the same name today. 1969 Dec SAMSUNG-Sanyo Electronics established (Renamed SAMSUNG Electro-Mechanics in March 1975 and merged with SAMSUNG Electronics in March 1977)    Jan SAMSUNG Electronics Manufacturing incorporated (Renamed SAMSUNG Electronics in February 1984) 968 Nov Koryo General Hospital opened (Renamed Kangbuk SAMSUNG Hospital in 1995) 1966 May Joong-Ang Development established (Known today as SAMSUNG Everland) 1965 Oct Saehan Paper Manufacturing acquired (Renamed Chonju Paper Manufacturing in August 1968 and no longer affiliated with SAMSUNG)    Sep SAMSUNG launched Joong-Ang Ilbo newspaper (No longer affiliated with SAMSUNG)    Apr SAMSUNG Foundation of Culture established 1963 Jul DongBang Life Insurance acquired (Renamed SAMSUNG Life Insurance in July 1989    DongHwa Department Store acquired (Known today as Shinsegae Department Store and no longer affiliated with SAMSUNG) 1958 Feb Ankuk Fire Marine Insurance acquired (Renamed SAMSUNG Fire Marine Insurance in October1993) 1954 Sep Cheil Industries Inc. founded 1953 Aug Cheil Sugar Manufacturing Co. founded (Now an independent company and no longer affiliated with SAMSUNG) 1951 Jan SAMSUNG Moolsan established (Known today as SAMSUNG Corporation) 1938 Mar SAMSUNG founded in Taegu, Korea SAMSUNGs industrial era (1970 ~1979)