Many are familiar with Samsung devices and are aware these devices are manufactured by Samsung Electronics. But Who founded Samsung Electronics Co., Ltd? Who is the CEO of this giant top-notch electronics company? Let’s find out here.
About Samsung Electronics
Samsung Electronics Co., Ltd. is a South Korean multinational electronics company headquartered in Seoul. It is one of the largest manufacturers of electronic devices in the world and has a diverse range of products including smartphones, TVs, home appliances, semiconductors, and more. Samsung Electronics is part of the Samsung Group, a conglomerate that also includes other subsidiaries such as Samsung Heavy Industries, Samsung SDI, and Samsung Life Insurance. The company was founded in 1969 and has since grown to become one of the most recognized and trusted brands in the world.
Brief History
In its early years, the company focused on producing electronic products such as televisions, radios, and home appliances for the Korean market.
In the 1970s, Samsung Electronics began expanding its operations globally, establishing factories and offices in various countries including the United States and Europe. The company continued to diversify its product line, introducing products such as microwave ovens and personal computers in the 1980s.
Throughout the 1990s, Samsung Electronics became a major player in the global electronics industry, expanding its product line to include mobile phones, semiconductors, and digital displays. The company also made several strategic acquisitions, including the purchase of AST Research 1996, a leading computer manufacturer at the time.
In the 2000s, Samsung Electronics continued to expand its product line and global reach. The company became the world’s largest manufacturer of memory chips and also entered the smartphone market with the launch of its Galaxy line of mobile devices.
Between 2000 and 2003, Samsung recorded a net profit margin of over five percent, a remarkable achievement considering that 16 out of the top 30 companies in South Korea had ceased operations during the unprecedented crisis at that time.
In 2005, Samsung Electronics overtook its Japanese competitor Sony to become the world’s 20th largest and most popular consumer brand, as measured by Interbrand.
Samsung has developed a reputation for financial insecurity, despite having 24 research-and-development centers around the world and emphasizing technical research and development.
In 2010, the company set an ambitious goal of reaching $400 billion in annual revenues within ten years. The company has had legal troubles for participating in a price-fixing scheme that occurred between 1999 and 2002. However, the EU granted Samsung immunity for acting as an informant during the investigation.
The company has sold its HDD commercial operations and tested 5G technology successfully. It has also released the Galaxy S4 ↗ and acquired media streaming device manufacturer Boxee. Samsung has achieved record earnings due to smartphone sales, particularly in India and China. In 2014, Samsung donated $3 million to St. Jude’s and the Humane Society after Ellen DeGeneres used a Samsung product in a group selfie photograph at the 86th Academy Awards ceremony. Samsung has also discontinued its Nook tablet collaboration with Barnes & Noble.
Today, Samsung Electronics is one of the largest electronics companies in the world, with operations in over 80 countries and a diverse range of products that includes smartphones, TVs, home appliances, semiconductors, and more.
Who founded Samsung Electronics Co., Ltd?
Samsung Electronics Co., Ltd was founded by Lee Byung-chul in 1969. He started his business in Taegu, Korea, trading noodles and other goods produced in and around the city and exporting them to China and its provinces.
