Samsung India

Topics: Samsung Group, Marketing, Samsung Electronics Pages: 18 (6703 words) Published: May 15, 2013
* 10. SAMSUNG – AN OVERVIEW The Samsung Group is a multinational conglomerate corporation headquarteredin Samsung Town, Seoul, South Korea. It is South Koreas largest chaebol and is the worldslargest private conglomerate by revenue with the annual revenue of US $172.5 billion in2009. The meaning of the Korean word Samsung means "tristar" or "three stars". The word"three" represents something "big, numerous and powerful"; the "stars" mean eternity. The Samsung Group comprises numerous international affiliated businesses, most ofthem united under the Samsung brand including Samsung Electronics, the worlds largesttechnology company by sales; Samsung Heavy Industries, the worlds second largestshipbuilder. Samsung Group accounts for more than 20% of South Koreas total exports.In manydomestic industries, Samsung Group is the sole monopoly dominating a single market; itsrevenue as large as some countries total GDP. Many businesses today use Samsungsinternational success as a role model.HISTORY In 1938, Lee Byung-chull founded Samsung, a small trading company with fortyemployees located in Su-dong (now Ingyo-dong). It dealt in groceries produced in and aroundthe city and produced noodles itself. The company prospered and Lee moved its head officeto Seoul in 1947. He started a sugar refinery in Busan as a name of Cheil Jedang. After thewar, in 1954, Lee founded Cheil Mojik and built the plant in Chimsan-dong, Daegu. It wasthe largest woolen mill ever in the country and the company took on an aspect of a majorcompany. 6 * 11. Samsung diversified into many areas and Lee sought to establish Samsung as anindustry leader in a wide range of enterprises, moving into businesses such as insurance,securities, and retail. Lee placed great importance on industrialization, and focused hiseconomic development strategy on a handful of large domestic conglomerates, protectingthem from competition and assisting them financially. In the late 1960s, Samsung Group began the electronics industry. It formed severalelectronics-related divisions, such as Samsung Electronics Devices Co., Samsung Electro-Mechanics Co., Samsung Corning Co., and Samsung Semiconductor & TelecommunicationsCo., and made the facility in Suwon. Its first product was a black-and-white television set. In1980, the company acquired Hanguk Jeonja Tongsinin Gumi, and started to buildtelecommunication devices. The company grouped them together under Samsung ElectronicsCo., Ltd. in the 1980s. In the late 1980s and early 1990s, Samsung Electronics invested heavily in researchand development, investments that were pivotal in pushing the company to the forefront ofthe global electronics industry. Samsung started to rise as an international corporation in the1990s. In 1993, Lee Kun-hee sold off ten of Samsung Groups subsidiaries, downsized thecompany, and merged other operations to concentrate on three industries: electronics,engineering, and chemicals.Samsung manufactured a range of aircraft from the 1980s to1990s. The company was founded in 1999 as Korea Aerospace Industries (KAI), the result ofmerger between then three domestic major aerospace divisions of Samsung Aerospace,Daewoo Heavy Industries, and Hyundai Space and Aircraft Company. Samsung became the largest producer of memory chips in the world in 1992, and isthe worlds second-largest chipmaker after Intel. In 1995, it built its first liquid-crystaldisplay screen. Ten years later, Samsung grew to be the worlds largest manufacturer ofliquid-crystal display panels.Samsung Electronics overtook Sony as one of the worlds mostpopular consumer electronics brands in 2004 and 2005, and is now ranked #19 in the worldoverall. Behind Nokia, Samsung is the worlds second largest by volume producer of cellphones with a leading market share in the North America and Western Europe. 7 * 12. ABOUT SAMSUNG ELECTRONICS Founded in 1969 in Suwon, Gyeonggi-do, Korea, Samsung Electronics Co., Ltd.manufactures and sells a wide variety of electronic...
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