Samsung

Samsung is a South Korean multinational conglomerate specialising in electronics, telecommunications, and several other industries.

Categories

Technology  

#21

Rank

$364.98B

MarketCap

South Korea

Country

Summary

Samsung is a South Korean multinational conglomerate that is headquartered in Seoul, South Korea. It was founded in 1938 and has since grown into one of the largest and most diversified companies in the world, with operations in various industries including consumer electronics, information technology, semiconductors, and financial services.

Samsung's consumer electronics division is one of the largest in the world and produces a wide range of products, including smartphones, televisions, home appliances, and wearable devices. The company's smartphone division, Samsung Mobile, is one of the largest in the world and produces some of the most popular Android smartphones on the market.

In addition to its consumer electronics operations, Samsung is also a major producer of semiconductors and is one of the largest manufacturers of memory chips and processors in the world. The company's semiconductor division supplies components to a wide range of industries, including consumer electronics, automotive, and cloud computing.

Samsung is known for its innovation and commitment to quality and is widely recognised as a leader in the technology industry. The company is also committed to sustainability and corporate social responsibility and is involved in various initiatives to promote these values. Samsung is a publicly traded company and is listed on the Korean stock exchange.

As of 2020, Samsung has the eighth highest global brand value.


History

Samsung was founded in 1938 by Lee Byung-chul as a small trading company in South Korea. In its early years, the company focused on exporting and importing goods, primarily in the textile industry. By the 1960s, Samsung had expanded into other industries such as insurance, securities, and retail.

Despite the challenges posed by the Korean War, Lee's entrepreneurial spirit led to the establishment of a sugar refinery named Cheil Jedang and the construction of the largest woollen mill in the country. In the following years, Samsung diversified its interests, venturing into sectors such as insurance, securities, and retail. In collaboration with Cho Hong-jai, the founder of the Hyosung group, Lee formed Samsung Mulsan Gongsa, which eventually transformed into Samsung C&T Corporation. The late 1960s marked Samsung's entry into the electronics industry, with the establishment of various divisions, including Samsung Electronics Devices, Samsung Electro-Mechanics, Samsung Corning, and Samsung Semiconductor & Telecommunications. Their first product, a black-and-white television set, laid the foundation for Samsung's future success in the electronics market.

In 1969, Samsung entered the electronics market with the production of black and white televisions. By 1975, the company had become one of the leading manufacturers of color televisions in Korea. During this time, Samsung also began to diversify its product portfolio, introducing a range of home appliances such as refrigerators and washing machines.

Despite its success in the electronics industry, Samsung faced challenges in the early 1970s due to the oil crisis and political instability in Korea. However, the company continued to invest in research and development, leading to the development of its first semiconductor in 1974.

In the late 1970s, Samsung Electronics expanded its semiconductor business, developing and producing memory chips for personal computers. This move helped establish Samsung as a major player in the global electronics market. Throughout the 1980s, Samsung continued to expand its product offerings, including the production of its first mobile phone in 1988.

In the 1990s, Samsung focused on technological innovation and research and development, investing heavily in the development of digital technology. The company launched its first digital TV in 1998, and in the same year, it became the world's largest producer of memory chips.

From 2001 onwards, Samsung Electronics continued to expand its presence in the global electronics market, with a focus on mobile devices and digital displays. In 2002, Samsung launched its first 3G phone, and in 2009, the company introduced its first Android smartphone, the Samsung Galaxy. Samsung's Galaxy line became extremely popular, with the Galaxy S and Galaxy Note models selling millions of units worldwide.

Samsung also made significant strides in the development of digital displays, introducing its first OLED screen in 2007 and becoming a leading manufacturer of high-quality display panels for smartphones, tablets, and TVs. The company also continued to invest in the development of new technologies, such as foldable displays and 5G networks.

In recent years, Samsung has faced challenges in the form of increased competition from Chinese manufacturers and a slowdown in the global smartphone market. The company has responded by diversifying its product portfolio, expanding its offerings in areas such as wearables, smart home technology, and IoT devices.

Samsung has also increased its focus on sustainability and corporate responsibility, launching initiatives aimed at reducing its environmental impact and improving the welfare of its employees and communities. Despite these challenges, Samsung remains one of the largest and most innovative electronics companies in the world, with a diverse range of products and services and a commitment to driving technological progress.


Mission

The mission of Samsung is to inspire the world with innovative technologies, products, and design that enrich people's lives and contribute to social prosperity. 

The company aims to achieve this mission by fostering a culture of creativity and collaboration, investing heavily in research and development, and maintaining a commitment to sustainability and corporate responsibility. 

Samsung seeks to use technology to create positive change in the world and improve the lives of individuals and communities around the globe.


Vision

Samsung's vision is to lead the digital convergence movement by providing innovative technology that is accessible and beneficial to all people around the world. 

The company aims to become a trusted leader in electronics, information technology, and digital media by delivering products and services that are intuitive, innovative, and energy-efficient. Samsung strives to create a better future for people and communities by fostering a culture of creativity, innovation, and collaboration, and by being a responsible corporate citizen. 

The company is committed to sustainability, diversity, and continuous improvement, with a focus on creating long-term value for its stakeholders and contributing to the development of a better world.


Key Team

Ki-Nam Kim (Vice Chairman and CEO, Head of Device Solutions Division)

Hark-Kyu Park (President & Head of Corporate Management Office, Device Experience)

Kye-Hyun Kyung (President & CEO, Device Solution)

Tae-Moon Rho (President & Head of Mobile Experience)

Yoon-Ho Choi (President and CEO, SDI)

Jung-Bae Lee (President & Head of Memory)

Jong-Hee Han (Vice Chairman & CEO, Device Experience)

Yoonie Joung (Executive Vice President, Mobile Business, Samsung Electronics America)

KS Choi (President and CEO, North America)

Jude Buckley (Executive Vice President, Mobile Business, Samsung Electronics America)

Bryan Choi (Senior Director, Consumer Marketing, Consumer Electronics, America)

Jae-Wan Bahk (Chairman of the Board & Independent Director)

Jeong Kim (Independent Director)

Sun-Uk Kim (Independent Director)

Jun-Sung Kim (Independent Director)


Recognition and Awards
CES Innovation Awards: Samsung has consistently been recognized at the Consumer Electronics Show (CES) with prestigious Innovation Awards across different categories. Red Dot Design Awards: Samsung has received multiple Red Dot Design Awards, one of the most renowned international design competitions. iF Design Awards: Samsung has been honored with iF Design Awards, another prominent global design accolade. GSMA Global Mobile Awards: Samsung's smartphones and mobile innovations have been recognized at the GSMA Global Mobile Awards, also known as the "Oscars of the mobile industry." Samsung has won awards in categories such as Best Smartphone, Best Mobile Innovation, and Best Mobile Technology Breakthrough. JD Power Awards: Samsung has been acknowledged by JD Power, a leading consumer insights and market research company, for its high customer satisfaction in various product categories, including smartphones, home appliances, and televisions. Environmental Awards: Samsung has received recognition for its commitment to sustainability and environmental stewardship. The company has been honored with awards such as the Energy Star Partner of the Year and the Dow Jones Sustainability Index inclusion for its efforts in reducing environmental impact and promoting eco-friendly practices. Brand Awards: Samsung's brand value and reputation have been consistently recognized by prestigious organizations such as Forbes, Interbrand, and Brand Finance.

Products and Services

The company focuses on four areas: digital media, semiconductors, telecommunication networks, and LCD digital appliances.

The digital-media business area covers computer devices such as laptop computers and laser printers, digital displays such as televisions and computer monitors, consumer entertainment devices such as DVD players, MP3 players, and digital camcorders, home appliances such as refrigerators, air conditioners, air purifiers, washing machines, microwave ovens, and vacuum cleaners.

The semiconductor-business area includes semiconductor chips such as SDRAM, SRAM, NAND flash memory, smart cards, Mobile application development mobile application processors, mobile TV receivers, RF transceivers, CMOS Image sensors, Smart Card IC, MP3 IC, DVD/Blu-ray Disc/HD DVD Player SOC, and multi-chip package (MCP).

The telecommunication-network-business area includes multi-service DSLAMs and fax machines, cellular devices such as mobile phones, PDA phones, and hybrid devices called mobile intelligent terminals (MITs), and satellite receivers.

The LCD business area focuses on producing TFT-LCD and organic light-emitting diode (OLED) panels for laptops, desktop monitors, and televisions.

Samsung Print was established in 2009 as a separate entity to focus on B2B sales and released a broad range of multifunctional devices, printers, and more. As of 2018, Samsung sold its printing business to HP.


References
Samsung
Leadership team

Yoon-Ho Choi  (President and CEO, SDI)

Ki-Nam Kim (Vice Chairman and CEO, Head of Device Solutions Division)

Kye-Hyun Kyung  (President & CEO, Device Solution)

KS Choi  (President and CEO, North America)

Industries

Technology

Products/ Services
Clothing, automotive, chemicals, consumer electronics, electronic components, medical equipment, semiconductors, solid state drives, DRAM, flash memory, ships, telecommunications equipment, home appliances, Advertising, construction, entertainment, financial services, hospitality, information and communications technology, medical and health care services, retail, shipbuilding, semiconductor foundry
Number of Employees
1,000 - 20,000
Headquarters
40th floor Samsung Electronics Building, 11, Seocho-daero 74-gil, Seocho District, Seoul , South Korea
Established
1969
Company Type
Public Limited Company
Company Registration
SEC CIK #0000875981
Revenue
Above - 1B
Traded as
005930.KS
Social Media

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Thu Apr 25 2024
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