Samsung Contributes to Better the World by Providing New Technologies, Innovative Products and Creative Solutions
Know More About Samsung Behind Creating New Technologies: Samsung is a South Korean worldwide conglomerate company with headquarters in Samsung Town, Seoul. Samsung, with its multitude of subsidiaries and affiliated business, Samsung is the largest South Korean form of business conglomerate. Samsung was originally founded in 1938, by Lee Byung-chul as a trading company.
The name Samsung literally translates to "three stars" in Korean, representing something big that lasts an eternity. Over the next 30 years, the company expanded into areas such as textiles, insurance, retail, securities, and even food processing. It wasn't until the late 1960's that Samsung entered the electronics industry. They then continued to enter the shipbuilding and construction industries in the mid 70's. Due to these areas of expansion, Samsung acquired the funds it needed for its continued growth. After Lee Byung-chul passed away in 1987, Samsung was divided into four different business groups - Shinsegae Group, CJ Group, Samsung Group, and Hansol Group. Since the 1990s, Samsung's main source of income has been mobile phones and semiconductors. Samsung and its affiliate companies produce about 20% of South Korea's total exports. The revenue of the company totaled out to roughly 17% of South Korea's 2012 GDP.
Samsung comprises around 80 highly diversified companies with activities in areas all over the globe, from financial services, to medical services, to construction, to consumer electronics, and even ship building. In the fiscal year of 2010, Samsung reported consolidated revenues of over 255 billion USD.