Success | Samsung | Who is owner?

 Samsung

When you hear Samsung, what things will round in your mind. Of course. Mobile, T.V, Refrigerator, Washing machine, and many more electrical items.

But What if I say the tallest building in the world’s “Burj Khalifa” was constructed by Samsung 

What if I say Samsung makes a boat, fighter tank, etc.

You may not believe it. So to know the facts and success story of Samsung, be in touch with us.  

For your kind information, at first Samsung company was a small grocery shop that used to sell noodles. Now how it has almost all products. How? let’s begin

Introduction

Samsung is one of the well-known companies. Samsung doesn't make only electronic products. Like constructing buildings, making fighter tanks. Boats. Total, Samsung works almost in 80 different sectors. The revenue of Samsung is 17% of the GDP of South Korea.  If Samsung went for the loss then imagine What will happen to South Korea.  The company has so many employees. If we take the employees of Samsung on one side and the employees of Microsoft, Apple, and Google on the other side. Then Who may have more employees? Samsung. Isn’t it amazing?

Who is the founder of Samsung?

Samsung is a company founded by Lee Byung-Chul. South Korean. He was born on February 12, 1910, in Uiryeong-gun, South Korea. The economic condition of South Korea was also weak. After the war, the condition of South Korea became worse. So, one of the citizens of Lee Byung-Chul thought to do such a type of business that would financially support South Korea. At first, Lee started his business from a grocery store where he used to sell. When his profit increased he began to expand his business. He also began to sell noodles out of the country like in China and others.

Lee focused on heavy industrialization. He thought about developing a huge amount of products.

The successful journey of Samsung( Lee-Byung Chul )

Lee- Byung Chul go for the Samsung company when he was continuously getting success in the field of business.  So from the small grocery shops. Lee planned to establish a big company. And he did too. He established a company named Samsung. Do you know how was Sansung named? Samsung was composed of two Korean words “ Sam” and “ Sung”.

Sam means three and Sung means stars,

Samsung- Three Stars

Later, Samsung also started the business of insurance, security, and retail. 

In 1969, Samsung started making electronics products also. Their first electronic product was a black and white television named P-3202. That T.V was launched in 1970. Slowly, Samsung started developing other electronic goods such as refrigerator, color T.V, microwave oven, and videocassette recorder ( VCR ). In 1983, the company entered telecommunication. In 1986, they made the first built-in car phone which was named SC-100. It was made to be attached to a car. But this product badly flopped. After being unsuccessful in that product, they did more research on the concerned topic. After much more research, they developed a keypad mobile. in 1986. They launched the same keypad mobile( SH-100 ).  

And this mobile was also unsucceed. Less quantity of mobile was sold. Till that time Samsung was unsuccessful in the process of developing mobiles. So on 7 June 1993, the chairman of Samsung organized a meeting with 200 employees. In that meeting, they planned to develop a good phone like Motorola within 1 year.  Again Samsung developed a keypad mobile named SH- 700. This was the first successful mobile phone made by Samsung. And it became very popular too. This was somehow a well-featured phone than others. One day, all the phone which was not good were burned in front of all employees to signify that they need everything perfect. And they also wanna make employees alert that they would not accept any mistakes. The public also knew those statements and Samsung got a positive response from the public.

Between 1996 and 1998, Samsung gained massive popularity through its fantastic CDMA service to people.

Code-division multiple access (CDMA) is a channel access method used by various radio communication technologies.

They occupied a total of 57 % in this field ( CDMA ).

After 2009 Samsung launched a screen touch phone for the first time. It was of Galaxy series named Samsung Galaxy S. That mobile phone of Samsung shaked the whole world. Almost in all countries, this phone was sold. So Samsung id the world’s second-largest information technology company by revenue after Apple. There is a total of 3025 employees working in Samsung.

South Korea's Samsung Corporation has won the contract to build the world's tallest building, the Burj Tower in Dubai. Samsung won the $306m(£160m) deal, after an 11-month bid process.

Samsung also made a fighter tank for South Korea named K9 Thunder.

And the life insurance company of Samsung in at the world’s 14th largest life insurance company. 

Now Samsung is a huge company of electronic products as well as other products.

Revenue

In 2017, the total revenue of Samsung was 211.2 billion dollars.

In 2018, the total revenue of Samsung was 221.6 billion dollars. 

In 2019, the revenue of Samsung was 230.4 billion dollars.

Samsung is the second-largest information technology company by revenue after Apple.

So, that’s it, guys. This was the success story of Samsung and Lee- Byung Chul. 

Have you ever thought a small grocery would change into this kind of large company? 

Nothing is impossible in the world if you have the courage to pursue it.

Good luck.