Samsung started as a food trading company that is a very unusual thing for most tech companies. In 1938, who would have thought that a small company dealing in dry fish would become a household name in electronics in the upcoming decades.
Today, we are going to look at the magnificent history of Samsung so buckle up for some crazy facts.
The History of Samsung
Humble Beginnings But Rapid Expansion
Samsung Group is one of the top companies in the world right now, employing more than 320,000 people. However, the South-Korean tech giant as we see it today was founded as a small food trading company by Lee Byung-Chul in 1938. The company quickly established its own sugar refinery. A few years later, it set up the largest woolen mill in Korea.
Lee was very passionate about industrialization and wanted Samsung to be the industry leader in all major sectors. That led to the company’s expansion into insurance, securities, and retail businesses.
Fun Fact: Samsung stands for “three stars” in Korean with three representing “something powerful.”
1960 to 1980
In the 1960s, they came into the electronics industry. Their first electronics product was a 12-inch black and white TV. Over the next decade, they started manufacturing other electronic appliances like washing machines, microwave ovens, and refrigerators. In 1978, Samsung produced 4 million black-and-white TVs and established its first overseas office in the United States.
1980 to 2000
With the creation of two R&D institutes, and the launch of personal computers, VCRs, TVs, and tape recorders, Samsung showed its seriousness about electronics.
During the 90s, they got into memory and hard drive manufacturing which is still a big part of their business today. After a big fail at their first mobile launch in 1995, they started taking mobile phones more seriously. Eventually, in 1999, they launched a successful internet-ready phone that would make mobile phones their most profitable business for the years to come.
2000 to Present
In the early 2000s, they got into making HD TVs and soon became the industry leaders. In the same decade, they started making Blu-Ray players and other home theater equipment as well.
In 2011, Samsung launched the Galaxy S II which is one of the most popular smartphones. The previous decade marked as their entry point into different industries like home automation, printing solutions, cloud solutions, payment solutions, and artificial intelligence.
Here are some facts about Samsung:
- Samsung has 80 different businesses including a military department and construction division.
- Burj Khalifa, the tallest building in the world, is built by Samsung.
- It employs more people than Apple and Microsoft.
- It has been the inventor of many products like 256M DRAM, 33” double-screen TV, and 3D TFT-LCD Monitor.
- This conglomerate makes 15% of South-Korea’s GDP.
Most of us have used a Samsung product at some point in our lives. If you have never used a Samsung product, you’ll still agree that it’s one of the top brands in the world.
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