About Samsung

In: Business and Management

Submitted By JoeyWhite
Words 291
Pages 2
Company Background
Samsung company is most famous in the world .It was formed on Mac 1, 1938, by Lee Byung-Chull in Korea. Samsung means "three stars" in Korean, which is because; it would have its own flour mills and confectionery machines. In addition, it also would have its own manufacturing and sales operations, and ultimately evolve to become the modern global corporation. Within 1970 and 1979, Samsung company was practiced the strategy which is diversifying in industries and electronics. It expanded in the securities, insurance and retail business. During this time, Samsung was produced black-and-white televisions, washing machine, refrigerator and microwave ovens. After the late 1970s, Samsung company also produced air conditioner, color TV and personal computers (PCs). In 1987, Lee Byung-Chull passed away and his son, Lee Kun-Hee succeeded him as the new chairman. Besides, the Samsung group was divided into four businesses group. In the year 1990 until 1993, this company was competing in a changing Tech World. It reorganized to focus on electronics, engineering, and chemicals. In 1991, the development of mobile phone handset completed and the development of 250MB hard disc drive and world’s first 64M DRAM also completed in 1993. Samsung Company has becoming a global force. The world’s first 33” double-screen TV introduced by Samsung Company in the year 1995. In 1997, all Korean businesses faced financial crisis, Samsung responded this crisis by reducing the number of its affiliated companies, decreasing personnel, selling 10 unit business units and improving the soundness of its financial structure. Within 2000 and present, Samsung Company has pioneering the digital age. Last but not least, Samsung has continued to expand in the mobile phone market and becoming the largest manufacturer of mobile phones.…...