History of Samsung

Topics: Mobile phone, Samsung Electronics, Telecommunication Pages: 2 (494 words) Published: September 6, 2009
When we talk about businesses that have humble beginning, then the history of Samsung can serve as the perfect example. It all started on March 1, 1938 when Byung-Chull Lee, the founding chairman of Samsung initiated a business in Korea with a capital of only 30,000 won. The primary products of what was then Samsung were dried Korean fish, fruits, and vegetables traded from Beijing and Manchuria.

For the etymology of Samsung, it has the root words "three stars." The business or Mr. Lee expanded and it had acquired confectionery machines, increased its sales operations and as we have known at present it has become a global corporation that is now offering various brands, products, around the world. The Samsung Electronics that mainly produces Samsung mobile phones and other mobile phone deals today is similar to the Samsung Company that existed in the 1970s.

In the 1970s, the strategic foundations of Samsung became more established when it engaged itself to various investments in petrochemical industries and in 1974 it continued to expand its business as Samsung Shipbuilding Company. And 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 world's 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...
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