Samsung
Samsung is the world’s second-largest mobile phone maker, with a market share of over 40%. It is also the largest mobile phone manufacturer in the world, with more than 80% of its sales coming from South Korea. Samsung has a powerful influence on South Korea’s economic development, politics, media and culture. Its affiliate companies produce around a fifth of South Korea’s total exports.
About Samsung in brief
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. 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 electronics; in particular, its mobile phones and semiconductors have become its most important source of income. 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. Samsung’s revenue was equal to 17% of South Korean’s USD 1,082 billion GDP. Notable Samsung industrial affiliates include Samsung Electronics, Samsung Heavy Industries, and Samsung Engineering and Samsung C&T. Other notable subsidiaries include Samsung Life Insurance, Samsung Everland and Cheil Worldwide. They have produced over 800 million mobile phones to date. The company grouped them together under Samsung Electronics in the 1980s. 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 the facility in Suwon.
In 1991, Samsung severed all payment guarantees and share-holding ties with Samsung affiliates. Today, these groups are not part of or connected to the Samsung Group and are independent and are not connected to One One. One One and One Hansol have been under management since their respective separations from Samsung Group in 1991. The group was originally part of the five Shinseong Group, along with CJ Group, Hansol and the JoAnggae Group along with the JoangAng Group. Today these groups along with Samsung Group are separated from the CJ Group along with the Hansol group and the One One Group, and are under management under the Samsung brand. Samsung has the 8th highest global brand value, as of 2020, and is the largest South Korean chaebol. It is the world’s second-largest mobile phone maker, with a market share of over 40%. It is also the largest mobile phone manufacturer in the world, with more than 80% of its sales coming from South Korea. Samsung is the second-biggest mobile phonemaker in the U.S. behind Apple, with over 80% market share. It also has the eighth-largest brand value in the global market, behind Apple and ahead of Samsung Electronics. Samsung Group was separated from CJ Group in the 1990s, along CJ Group. It has been one of the most successful chaebols in South Korea since it was founded in 1938. The Samsung Group is the third-largest South Korean business group, after the Hyundai Group and the LG Group.
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This page is based on the article Samsung published in Wikipedia (as of Dec. 04, 2020) and was automatically summarized using artificial intelligence.
