The Samsung Group is a multinational conglomerate of manufacturers from South Korea. It is the main source of the South Korean economy. Its headquarters are in Seoul, South Korean Town. It consists of various linked companies, the majority of which are unified under the Samsung brand. Additionally, this is the biggest business conglomerate in South Korea. As of 2020, Samsung has the 8th highest worldwide brand value. Samsung has just released a new device that can aid people in avoiding overworking. This ground-breaking invention is a computer mouse that turns off after regular business hours. The tech giant posted a mouse concept video on its official Korean YouTube account.
History Of Samsung
Lee Byung-Chul founded Samsung as a trading company with just approximately US$27. In 1938, it had its headquarters in Taegu. Samsung started as a food store that traded and exported commodities with 40 employees. It manages the products made in and near the city. Along with its noodles, it also offered dried Korean fish and vegetables. As the company grew, it developed itself in more areas. Within 30 years, Samsung established itself in the business of insurance, retail, and security in the South Korean market.
In 1969, Samsung made its debut in the electronics sector with several dedicated divisions. Televisions in black and white were their first products. The business started exporting home electronics goods abroad in the 1970s. Samsung was already a significant producer in Korea at the time. The company had bought a 50% share in Korea Semiconductor. After this, Samsung made many electronics products like fridges, AC, washing machines, VCRs, and cameras.
Failure Of Its Initial Phones
1983 was the year when Samsung moved into the telecommunication field. In 1986, the first built-in-car phone, SC-100, was launched three years later. However, it flopped badly. After this product, the company did a lot of research and launched a phone named SH-100. This also proved unsuccessful. It was the time when Motorola was the only brand in the market whose mobile phones were sold all over the world. They took a lesson from them, and in 1993, the Samsung CEO held a meeting with 200 people. Knowing the needs of the people, it was decided to make a phone like Motorola within a year.
In 1993, a phone called the SH-700 model came, which the people highly appreciated. This was Samsung’s first successful phone. This phone was soon available in the market. These were burnt in front of employees when they found any flaw. They did so that the message reached the employees that they would not tolerate any deficiency. Further making some changes to SH-700, a new version was launched in October 1994. Since this phone, Samsung has been a successful mobile phone company.
Samsung Mobile Entry Into Indian Market
In India, currently, Samsung products are readily accessible and incredibly well-liked. However, Samsung India Electronics was tiny in 1995 by the parent company, Samsung Electronics. It only had two employees and a small office in Connaught Place, New Delhi. The company, which back then dealt in televisions, had a partnership with Videocon. The journey of Samsung in India started in 1995. However, the company launched its first phone in the Indian market in 2004. At that time, it was difficult for them to survive in the Indian market. Nokia was dominant in India back then. Eventually, they started making their place in the Indian market.
Their initial time in the Indian market was not very special. However, after 2010, Samsung launched the Galaxy S phone. This phone was on the list of the world’s most favorite and best-selling phones. Then with the 2011 Galaxy Note, Samsung reached the pinnacle of success and never looked back. Soon, Samsung became the largest smartphone brand in the world and the second largest electronics company after Apple.
Apple And Samsung’s Unique Relationship
The rivalry between Apple and Samsung extends beyond the marketplace and legal disputes. The two businesses collaborate in the supply chain and are crucial to one another. It all started in 1983 when Steve Jobs visited Samsung to find displays and memory chips for tablet computers. Following this tour, they began supplying Apple with displays and Chipsets. Apple employed these in the creation of the iPhone and iPad.
They collaborated for 20 years. However, a patent dispute between the two erupted in 2011. Samsung allegedly copied the iPhone, according to Apple. There was a lengthy period of court cases and hearings. When this cycle cameconcluded2018, Samsung paid Apple Rs. 4,000 crore. By the way, people still refer to these two businesses as “Frenemies.”
A Phone That Was Banned For Taking It On Flight
In 2016, there were several cases of blasts in the Galaxy Note 7 smartphone. The problem of overheating was also there on the phone. When the blast and heating issue didn’t vanish, they shut down the phone forever. There was also a case of a Galaxy Note 7 blast at the airport. After this, there was a ban on Galaxy mobile phones on the flight. Due to this incident, there was a strong decline in the sales of the Galaxy Note 7 smartphone. Additionally, the company faced a loss of about Rs 15,375 crore in the third quarter of 2016.
Samsung’s Construction Business Constructed The Burj Khalifa
The Burj Dubai, popularly known as the Burj Khalifa, opened its doors in 2010. It is a skyscraper in Dubai, United Arab Emirates. It has a roof height and a total height of 829.8 meters. Since topping out in 2009, the Burj Khalifa has held the title of tallest building and structure in the world. The world’s tallest structure, the Burj Khalifa, was constructed by Samsung’s construction business. The Burj Khalifa’s exterior was finished in 2009, five years after exterior construction started in 2004. Additionally, they worked on Taipei 101 and the Petronas Twin Towers. Together with BESIX from Belgium and Arabtec from the United Arab Emirates, Samsung C&T constructed the skyscraper.
Samsung Smartphone Market Share
In the worldwide smartphone market, Samsung has consistently been the front rival. Samsung has a 21.8 percent share of the worldwide smartphone market in the second quarter of 2022. Since 2009, the smartphone market has experienced significant fluctuations. Only one of the top five smartphone brands had year-over-year growth. Their shipments also rose by 8%.
Today, there are more than 2000 exclusive brand outlets in India. Yet did you know that Leh is also home to a Samsung brand store? Approximately 3500 meters above sea level is where it is located. The project began in 2016. This is the first mobile store on the nation’s highest point.