Samsung history

 

The company was founded in 1999 as Korea Aerospace Industries (KAI), the result of a merger between then three domestic major aerospace divisions of Samsung Aerospace, Daewoo Heavy Industries and Hyundai Space and Aircraft Company. This makes the Austin location the largest foreign investment in Texas and one of the largest single foreign investments in the United States.[23][24]

In 1987, United States International Trade Commission order that the Samsung Group of South Korea unlawfully sold computer chips in the United States without licenses from the chip inventor, Texas Instruments Inc. S-LCD was owned by Samsung (50% plus one share) and Sony (50% minus one share) and operates its factories and facilities in Tanjung, South Korea. Kim also told the media that he was "sidelined" by Samsung after he refused to pay a $3.3 million bribe to the U.S. Additionally, Samsung manufactured a range of aircraft from the 1980s to the 1990s. It was in this period that Samsung started to rise as an international corporation in the 1990s. Samsung's construction branch was awarded contracts to build one of the two Petronas Towers in Malaysia, Taipei 101 in Taiwan and the Burj Khalifa in United Arab Emirates.[26] In 1993, Lee Kun-hee sold off ten of Samsung Group's subsidiaries, downsized the company, and merged other operations to concentrate on three industries: electronics, engineering and chemicals. The order requires Samsung to pay a penalty to Texas Instruments within the coming weeks. However, Samsung still manufactures aircraft engines and gas turbines.[29]

2000–present

The prominent Samsung sign in Times Square, New York City

In 2000, Samsung opened a development center in Warsaw, Poland. Its early products were switchboards. Lee sought to establish Samsung as a leader in a wide range of industries. Ten years later, Samsung grew to be the world's largest manufacturer of liquid-crystal display panels. Samsung moved into lines of business such as insurance, securities, and retail.

In 1947, Cho Hong-jai, the Hyosung group's founder, jointly invested in a new company called Samsung Mulsan Gongsa, or the Samsung Trading Corporation, with the Samsung's founder Lee Byung-chull. They have produced over 800 million mobile phones to date.[20] The company grouped them together under Samsung Electronics in the 1980s.

After Lee, the founder's death in 1987, Samsung Group was separated into five business groups—Samsung Group, Shinsegae Group, CJ Group, Hansol Group and the JoongAng Group.[21] Shinsegae (discount store, department store) was originally part of Samsung Group, separated in the 1990s from the Samsung Group along with CJ Group (Food/Chemicals/Entertainment/logistics), Hansol Group (Paper/Telecom), and the JoongAng Group (Media). As of 2020, Samsung has the 8th highest global brand value.[4]

Samsung Group

Samsung Logo.svg

Logo since 2005

Samsung headquarters.jpg

Samsung Town in the Gangnam station area of Seoul, South Korea

Native name

삼성 (三星)

Romanized name

samseong (samseong)

Type

Private

Industry

Conglomerate

Founded

1 March 1938; 84 years ago in Daegu, Japanese Korea

Founder

Lee Byung-chul

Headquarters

40th floor Samsung Electronics Building, 11, Seocho-daero 74-gil, Seocho District, Seoul, South Korea[1]

Area served

Worldwide

Key people

Lee Jae-yong

(Chairman)

Products

Clothing, automotive, chemicals, consumer electronics, electronic components, medical equipment, semiconductors, solid state drives, DRAM, flash memory, ships, telecommunications equipment, home appliances[2]

Services

Advertising, construction, entertainment, financial services, hospitality, information and communications technology, medical and health care services, retail, shipbuilding, semiconductor foundry

Subsidiaries

Samsung Electronics

Samsung Electro-Mechanics

Samsung SDI

Samsung SDS

Samsung Engineering

Samsung C&T Corporation

Samsung Heavy Industries

Samsung Life Insurance

Samsung Fire & Marine Insurance

Cheil Worldwide

Samsung Biologics

Website

Samsung.com

Samsung

Hangul

삼성

Hanja

三星

Revised Romanization

Samseong

McCune–Reischauer

Samsŏng

Samsung was founded by Lee Byung-chul in 1938 as a trading company. The Samsung Group[3] (or simply Samsung, stylized in logo as SΛMSUNG) (Korean: 삼성 [samsʌŋ]) is a South Korean multinational manufacturing conglomerate headquartered in Samsung Town, Seoul, South Korea.[1] It comprises numerous affiliated businesses,[1] most of them united under the Samsung brand, and is the largest South Korean chaebol (business conglomerate). It was the largest woollen mill ever in the country.[citation needed]

Samsung diversified into many different areas. This occurred after some units of the phones had batteries with a defect that caused them to produce excessive heat, leading to fires and explosions. One Shinsegae department store executive director said, "Shinsegae has no payment guarantees associated with the Samsung Group".[22]

In the 1980s, Samsung Electronics began to invest heavily in research and development, investments that were pivotal in pushing the company to the forefront of the global 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. Samsung Group was separated into Samsung Group and Hyosung Group, Hankook Tire and other businesses.[17][18]

In the late 1960s, Samsung Group entered the electronics industry. The smartphone platform was developed with partners, officially launched with the original Samsung Solstice[30] line of devices and other derivatives in 2008, which was later developed into Samsung Galaxy line of devices including Notes, Edge and other products.

The Samsung Group's chairman, Lee Kun-hee (left), with South Korean President Park Geun-hye, 2013

In 2007, former Samsung chief lawyer Kim Yong Chul claimed that he was involved in bribing and fabricating evidence on behalf of the group's chairman, Lee Kun-hee, and the company. patents than any other company – including IBM, Google, Sony, Microsoft and Apple. Its first product was a black-and-white television set.[citation needed]

1970–1990

"Lee Byung-chul, founder of Samsung"

 https://en.m.wikipedia.org/wiki/Samsung#:~:text=Lee%20Byung-chul%2C%20founder%20of%20Samsung

The SPC-1000, introduced in 1982, was Samsung's first personal computer (sold in the Korean market only) and used an audio cassette tape to load and save data – the floppy drive was optional.[19]

In 1980, Samsung acquired the Gumi-based Hanguk Jeonja Tongsin and entered telecommunications hardware. As of 2012, Samsung has invested more than US$13,000,000,000 in the Austin facility, which operates under the name Samsung Austin Semiconductor. He started a sugar refinery in Busan named Cheil Jedang. The ban includes circuit boards and equipment called single-in-line packages made by other companies that use D-RAM's made by Samsung with 64,000 or 256,000 characters of memory. Its work began with set-top-box technology before moving into digital TV and smartphones. It also covers computers, facsimile machines and certain telecommunications equipment and printers bearing either of the Samsung chips.[25]

1990–2000

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. Following Lee's death in 1987, Samsung was separated into five business groups – Samsung Group, Shinsegae Group, CJ Group and Hansol Group, and Joongang Group.

Notable Samsung industrial affiliates include Samsung Electronics (the world's largest information technology company, consumer electronics maker and chipmaker measured by 2017 revenues),[5][6] Samsung Heavy Industries (the world's 2nd largest shipbuilder measured by 2010 revenues),[7] and Samsung Engineering and Samsung C&T Corporation (respectively the world's 13th and 36th largest construction companies).[8] Other notable subsidiaries include Samsung Life Insurance (the world's 14th largest life insurance company),[9] Samsung Everland (operator of Everland Resort, the oldest theme park in South Korea)[10] and Cheil Worldwide (the world's 15th largest advertising agency, as measured by 2012 revenues).[11][12]

In 1938, during Japanese-ruled Korea, Lee Byung-chul (1910–1987) of a large landowning family in the Uiryeong county moved to nearby Daegu city and founded Mitsuboshi Trading Company (株式会社三星商会 (Kabushiki gaisha Mitsuboshi Shōkai)), or Samsung Sanghoe (주식회사 삼성상회). The trading firm grew to become the present-day Samsung C&T Corporation. Today these separated groups are independent and they are not part of or connected to the Samsung Group.[22] One Hansol Group representative said, "Only people ignorant of the laws governing the business world could believe something so absurd", adding, "When Hansol separated from the Samsung Group in 1991, it severed all payment guarantees and share-holding ties with Samsung affiliates." One Hansol Group source asserted, "Hansol, Shinsegae, and CJ have been under independent management since their respective separations from the Samsung Group". Federal District Court judge presiding over a case where two of their executives were found guilty on charges related to memory chip price-fixing. Cho wanted a 30 equity share. After a few years, Cho and Lee separated due to differences in management style. The facility was developed into the telephone and fax manufacturing systems and became the center of Samsung's mobile phone manufacturing. When the Korean War broke out, he was forced to leave Seoul. The company prospered and Lee moved its head office to Seoul in 1947. As of 26 December 2011, it was announced that Samsung had acquired the stake of Sony in this joint venture.[28]

Compared to other major Korean companies, Samsung survived the 1997 Asian financial crisis relatively unharmed. Kim said that Samsung lawyers trained executives to serve as scapegoats in a "fabricated scenario" to protect Lee, even though those executives were not involved. Samsung started out as a small trading company with forty employees located in Su-dong (now Ingyo-dong).[16] It dealt in dried-fish,[16] locally-grown groceries and noodles. Otherwise, sales of all dynamic random access memory chips made by Samsung and all products using the chips would be banned in the United States. The company received 7,679 utility patents through 11 December.[44]

The Galaxy Note 7 smartphone went on sale on 19 August 2016.[45] However, in early September 2016, Samsung suspended sales of the phone and announced an informal recall. As of 2010, Renault Samsung is 80.1 percent owned by Renault and 19.9 percent owned by Samsung. However, Samsung Motor was sold to Renault at a significant loss. In 1954, Lee founded Cheil Mojik and built the plant in Chimsan-dong, Daegu. Kim revealed that the company had raised a large number of secret funds through bank accounts illegally opened under the names of up to 1,000 Samsung executives—under his own name, four accounts were opened to manage 5 billion won.[31]

In 2010, Samsung announced a ten-year growth strategy centered around five businesses.[32] One of these businesses was to be focused on biopharmaceuticals, to which has committed ₩2,100,000,000,000.[33]

In first quarter of 2012, Samsung Electronics became the world's largest mobile phone maker by unit sales, overtaking Nokia, which had been the market leader since 1998.[34][35]

On 24 August 2012, nine American jurors ruled that Samsung Electronics had to pay Apple $1.05 billion in damages for violating six of its patents on smartphone technology. Samsung recalled all Galaxy Note 7 smartphones worldwide on 10 October 2016, and permanently ended production of the phone the following day.[46][47][48]

In 2018, Samsung launched the world's largest mobile manufacturing facility in Noida, India, with guest of honour including Indian Prime Minister Narendra Modi.[49]

In the 2021 review of WIPO's annual World Intellectual Property Indicators Samsung was ranked as 3rd in the world for its 170 industrial design registrations published under the Hague System in 2020,[50] slightly down from their 2nd place ranking in 2019 for 166 design registrations being published.[51][non-primary source needed]

. The case was commenced after the commission received complaints stating that the agency hired students to attack competitors of Samsung Electronics in online forums.[42] Samsung Taiwan made an announcement on its Facebook page in which it stated that it had not interfered with any evaluation report and had stopped online marketing campaigns that constituted posting or responding to content in online forums.[43]

In 2015, Samsung has been granted more U.S. Sony, which had not invested in large-size TFT-LCDs, contacted Samsung to cooperate, and, in 2006, S-LCD was established as a joint venture between Samsung and Sony in order to provide a stable supply of LCD panels for both manufacturers. In 1982, it built a television assembly plant in Portugal; in 1984, a plant in New York; in 1985, a plant in Tokyo; in 1987, a facility in England; and another facility in Austin, Texas, in 1996. Over the next three decades, the group diversified into areas including food processing, textiles, insurance, securities, and retail. The decision also ruled that Apple did not violate five Samsung patents cited in the case.[36] Samsung decried the decision saying that the move could harm innovation in the sector.[37] It also followed a South Korean ruling stating that both companies were guilty of infringing on each other's intellectual property.[38] In first trading after the ruling, Samsung shares on the Kospi index fell 7.7%, the largest fall since 24 October 2008, to 1,177,000 Korean won.[39] Apple then sought to ban the sales of eight Samsung phones (Galaxy S 4G, Galaxy S2 AT&T, Galaxy S2 Skyrocket, Galaxy S2 T-Mobile, Galaxy S2 Epic 4G, Galaxy S Showcase, Droid Charge and Galaxy Prevail) in the United States[40] which has been denied by the court.[41]

As of 2013, the Fair Trade Commission of Taiwan is investigating Samsung and its local Taiwanese advertising agency for false advertising. Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth. In 1996, the Samsung Group reacquired the Sungkyunkwan University foundation.

Samsung became the world's largest producer of memory chips in 1992 and is the world's second-largest chipmaker after Intel (see Worldwide Top 20 Semiconductor Market Share Ranking Year by Year).[27] In 1995, it created its first liquid-crystal display screen. Samsung replaced the recalled units of the phones with a new version; however, it was later discovered that the new version of the Galaxy Note 7 also had the battery defect. The award was still less than the $2.5 billion requested by Apple