Samsung is a South Korean multinational conglomerate comprising of 80 affiliated businesses in diverse fields such as consumer electronics, home appliances, shipbuilding, telecommunication equipment, semiconductors and much more. The company has its headquarters in Suwon, South Korea. Samsung accounts for a fifth of the total exports from South Korea and is a global brand particularly in technology. As of 2020, Samsung was ranked eight in terms of global brand value.
History
Samsung was established in the year 1938 as a trading company by Lee Byung-Chul. It entered the electronics industry in the 1960s and the shipbuilding industry in the 1970s. In the same period, Samsung expanded its textile manufacturing capabilities and also invested in petrochemical and heavy industries.
Samsung’s foray into the electronics industry began with the manufacture of black and white televisions and it began exporting consumer electronics in the 1970s. The company expanded into the global electronics market in the 90s with a wide range of products such as semiconductors, LCD screens, computer monitors and more.
The Galaxy range of smartphones launched by Samsung quickly became one of most selling smartphones in the world and also a flagship product for the company. The Galaxy series started including tablet computers in 2010 and smartwatches in 2013.
Samsung Electronics, the most prominent affiliate of the Samsung conglomerate, is engaged in manufacturing consumer electronics and also provides IT services. Other prominent affiliates include Samsung Heavy Industries, Samsung C&T Corporation and Samsung Engineering.
Products
Samsung Electronics manufactures the flagship products of this brand such as mobile phones, tablet computers, refrigerators, air conditioners, display monitors, semiconductors, digital televisions, telecommunications networking equipment and computer printers.
Samsung Heavy Industries is engaged in shipbuilding and manufactures crude oil tankers, container vessels, bulk carriers, cruisers and more. Samsung Engineering mainly constructs petrochemical plants, oil refineries, water treatment facilities, steel plants and power plants.
Net Worth
The net worth of Samsung in the year 2023 is USD 364.06 billion. The bulk of its revenues come from Samsung Electronics which has a dominant position in the global consumer tech products such as mobile phones and televisions. Samsung’s diverse business interests worldwide also play a major role in its revenue stream.
Highlights of Samsung company details
| Samsung company is from which country | South Korea |
| Established year | 1938 |
| Samsung company owner | Lee Jaye-yong |
| Samsung company headquarters | Samsung Digital City, Suwon, South Korea |
| Products of samsung company | Consumer electronics, home appliances, semiconductors, ships, etc. |
| Samsung company founder | Lee Byung-Chul |
| Parent company of samsung | Samsung Group |
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Anantha Nageswaran is the chief editor and writer at TheBusinessBlaze.com. He specialises in business, finance, insurance, loan investment topics. With a strong background in business-finance and a passion for demystifying complex concepts, Anantha brings a unique perspective to his writing.
