Samsung is a private South Korean multinational Company that has different businesses and has a grip on different fields. The founder of Samsung is Lee Byung-Chul and this company was founded 84 years ago on March 1, 1938, in Daegu, Japanese Korea. The headquarters of the company is located on the 40th floor of the Samsung Electronics Building, 11, Seocho-aero 74-Gil, district Seocho, Seoul, South Korea.
Samsung has contributed to Automotive, Clothing, Chemicals, electric components, and consumer electronics. The other products of Samsung are medical equipment, solid states drive, DRAM, flash memory, telecommunication equipment, and as well as they produce home equipment.
Samsung provides many services also. The Samsung services include construction, entertainment, Advertisement, shipbuilding, information and communications technology, medicinal and health care services, retail, and semiconductor foundries.
There are also some Subsidiaries of Samsung which are Samsung Engineering, Samsung C&T Corporation, Samsung Heavy Industries, Samsung Life Insurance, Samsung Fire & Marine Insurance, Cheil Worldwide, and Samsung Biologics are just a few of the companies that make up the Samsung Group.
Beginning of Samsung:
In 1938, Samsung was founded as a trading company. After 30 years Samsung diversified into different areas including textiles, insurance, food processing, retail, and securities. In 1960, Samsung entered the electronics industry, and then in mid-1970, also entered into the construction and shipbuilding industries. Then after the death of Lee Byung-Chul, in 1987, the Samsung Company was divided into 5 different business groups which are, Shinsegae Group, CJ Group, Samsung Group, Hansol Group, and JoongAng Group.
The market value of the different products is outstanding. Some of the products like Samsung C&T Corporation are respectively the world’s 13th and 36th largest construction companies in the world, by 2017 revenues, Samsung Electronics was the world’s largest information technology company, consumer electronics maker, and chipmaker, while Samsung Heavy Industries is the world’s second-largest shipbuilders measured by 2010 revenues of all the world, Samsung Life Insurance is considered as the world’s 14th largest insurance company and Cheil Worldwide which is the world’s 15th largest advertising agency by the revenue of 2012.
Samsung started as a small trading company with only 40 employees and they deal in dried fish, noodles, and locally grown groceries. Then in 1947, Cho Hong-jai, invested in a newborn company known as Samsung Trading Corporation. Later on in the 1960s, the company entered the electronics industry and started producing electronic devices. Its first product was a television set. In 1980, they also entered telecommunications hardware. Its early products were switchboards. In 1980, Samsung Electronics began to invest heavily in development and research. A television assembly plant in Portugal In 1982 and 1984, a plant in New York and the next year in 1985, a plant in Tokyo, and later on in 1987, a facility in England. Another facility in Austin, Texas, in 1996. As a record in 2012, Samsung invested more than 13,000,000,000 US dollars in the Austin facility, which is working under the name Samsung Austin Semiconductors. Since 1990, Samsung is increasingly globalized and in particular, its mobile phones and semiconductors have become its most important source of income. And in the 21st century, they opened a development center in Warsaw,
Revenue of Samsung:
The products of Samsung are in most demand in the market. And the revenue of Samsung is very high. The net revenue of Samsung in 2017 was about 211 billion US dollars, in 2018 the revenue of Samsung was about 221 billion US dollars, in 2019 it comes to about 196 billion US dollars, in 2020 the net revenue was about 203 billion US dollars, then in 2021, the net revenue was about 240 billion dollars and recently in 2022 the net revenue of Samsung was about 241 billion US dollars.
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