SAMSUNG | Successpreneur

Samsung, leader of electronic products and gadgets

Business

Samsung is one of the most important brands on the planet and is ranked in the top 20 most popular brand names. It’s a South Korean multinational company and its headquarters are located in Samsung Town, Seocho District, Seoul, South Korea. Its Korean name is “hanja” and it’s meaning is “three stars”.

This company was founded by Lee-Byung Chul on 1 March 1938 as a trading company in Daegu, Japanese Korea. As of now, Lee Kun hee is the chairman and Lee Jae Yong is the vice-chairman of this MNC. Lee Byung Chul launched this company with only 30,000 won on his hands. At first, Samsung totally focused on selling dried Korean fish, fruits and vegetables. From that point forward Samsung has developed to a worldwide brand, which is sold in 58 nations.

Now, Samsung sells almost every electronic product for example mobile phones, medical equipment, DVDs, home appliances and much more. The most popular product of the company is mobile phones which are always competing with Apple neck to neck. Samsung’s mobile phones are extremely popular, just behind Apple. Samsung also offers services to its customers like advertising, entertainment, financial services, medical and health care services etc. Basically, this company has developed into an all-rounder. Samsung is Korea’s biggest “Chaebol”. It has a powerful influence on South Korea’s economic development, politics, media and culture.

The company produces around a fifth of South Korea’s total exports. By 2017, Samsung has the 6th highest global brand value. There are a total of 309,630 employees working at Samsung, as calculated in 2018. The revenue of Samsung is 208.5 billion US dollars and it also makes 17% of South Korea’s GDP. Samsung releases many products in a year which helps increase the company’s income. This company is getting huge year by year and there’s no stopping.