HISTORY OF SAMSUNG..

SAMSUNG IS ONE OF INTERNATIONAL ELECTRONIC GIANT FROM KOREA. THEY HAVE A MAJOR PORTION OF PRESENT SMART PHONE MARKET. HERE WE ARE DISCUSSING THE HISTORY OF SAMSUNG..

Samsung's history starts in 1938 by opening of  "Samsung General Stores" opened in North Kyung- sang Province, Korea. The company conducted its trade business until the 1950s when it became a producer of basic commodities such as sugar and wool. In 1958, Samsung be- came involved in the insurance industry by incorporating a local fire & marine insurance company.

during 1960's Samsung became as one of international company from Korea, they started overseas trade. The group consolidated its manufacturing base by adding paper and fertilizer businesses. Samsung continued with expansion into the life insurance business, strengthened its retail operations and then moved into the communications sector, success- fully establishing a newspaper and a broadcasting company.

 

The 1970s were a crucial period in shaping present-day Samsung. Its strengths in the semi- conductor, information and telecommunications industries grew from the significant investments made during this period. Samsung also took a meaningful step toward heavy industries by venturing into aircraft manufacturing, shipbuilding and construction, as well as chemical industries.

In the 1980s, Samsung expanded its efforts into exploring the larger markets overseas. The group began contributing to foreign economies by building facilities in the US, the UK and Portugal. Samsung also invested considerable resources into fostering Korea's rich heritage by supporting a wide range of cultural and artistic activities.

The final decade of the 20th century saw the evolution of Samsung's new approach to management. Chairman Kun-Hee Lee's insightful vision and the introduction of the "New Management" in 1993 acknowledged the need to transform management philosophy in order to keep up with a rapidly changing global economy. More recently in 2000, a "Digital Management" approach was adopted to ensure that Samsung maintains a leading position as the Information Age continues to transform global business and culture. Since Kun-Hee Lee's appointment as Chairman in 1987, the group's total sales increased by 7.2 times to US$98.7 billion and net income by 25 times to US$4.5 billion in 2001. Total assets of the group grew 12.6 times to US$124.3 billion.

 

Today, Samsung has evolved into a group of companies unmatched by others in  its range of industries and performance. It is now coherently restructured and streamlined, well- trained, globally-focused and responsive to the needs of each market, and more committed than ever to true innovation. The group's three core business sectors are electronics, finance, and trade and services.

Today Samsung Mobile's and other electronics are world famous in the case of samsung mobile, they are one of major players in the case of smart phone industry.