Success story from nothing to globality

The success story of South Korea’s Samsung, one of the world’s largest electronics manufacturers and a multinational, includes several of its subsidiaries, uniting under the Samsung brand.

It specializes in the production of a wide variety of electronic and consumer devices, including electrical appliances, digital media devices, semiconductors, chipsets and many more.

It has become one of the most famous technology brands.

It produces about one-fifth of South Korea’s total exports, and the company has a strong influence on South Korea’s development, politics, media and economic culture.

Byung Chul Lee is a personalities that have great ambition in life.

Byung Chul Lee set up a small shop to sell sugar and rice, but this was not ambitious.

It was a seed from which a large company, Samsung, became world-renowned and became one of the largest in the world.

But shortly after, Pyong invested all the money from the rice trade to open several companies.

By then, he left the sale of rice and sugar and opened Samsung Electronics, such as TVs, washing machines and more.
This company was very popular because Pyong was using different and innovative ways to sell products.

In the beginning, Pyong made strong offers to the consumer, especially to facilitate the payment process.

in addition to things that guarantee the right of consumers after the sale.

Samsung products have spread all over the world, and become profitable, and Samsung has become one of the most important companies in the world

How did Samsung start?

The idea was to open a small shop selling sugar and rice, but after the Korean War, Lee expanded his textile business and opened Korea’s largest textile factory.

He focused heavily on industrialization to help his country redevelop itself after the war.

During this period, his work benefited from the new protection policies adopted by the Korean government aimed at protecting the huge local blocs by protecting them from competition and providing them with funding.

In 1970, the company expanded its textile manufacturing business to cover the entire production line from raw materials to finished product to better compete in the textile industry.

New branches have been set up, such as Samsung Heavy Industries.

which has become the sole and main supplier of LNG, Samsung Shipbuilding, and Samsung Tech to assemble and install small components.

During the same period, the company started investing in the heavy chemical and petrochemical industries, providing the company with a promising growth sector.

When the technology emerged, Byung Chul Lee thought to develop himself and invest in an electronics maker
Samsung Industrial Company started in 1969.

Based in Suwon, South Korea, its products were initially electrical appliances, whether televisions, washing machines, refrigerators, air conditioners, etc.

It then set up another company in partnership with Japan’s NEC Audio-visual Equipment Industry.

The company then expanded considerably, and in 1988 Samsung launched its first mobile phone
.

Samsung launched quickly and significantly in the industry, and was characterized by mobile phones.

The company produced a lot of refrigerators that made great profits, and then acted as a sponsor of many sporting events, among them is that it sponsored the Olympic Games.

It was on the floor of its rival, Sony, one of the world’s most popular electronic companies

success story   South Korea's  Samsung electronics largest
success story success story

In 2000, Samsung had 55,000 employees and sales of 26 billion.
Samsung used all possible channels of communication, advertising media, public relations, sponsors, sports, product advertising, and Samsung’s showroom.
In addition to Samsung’s retail stores, the main communication channels of the brand.

What happened to Samsung:

  • In 2010, the company announced a ten-year growth strategy centered on five businesses focusing on biopharmaceuticals.
  • In 2012, Samsung Electronics became the global leader in the mobile phone industry in terms of sales, surpassing Nokia, which was the industry leader at the time.
  • Since 2005, the company has sponsored many sports clubs, sports and art events.
  • In 2012, its total revenue was approximately $ 265 billion, with profits of $ 26 billion.
    It has more than 425,000 employees today.

Marowa Al Tujjar
Marowa Al Tujjar
مديرة القسم الصحفي - كاتبة و محررة إقتصادية متخصصة بالعملات الرقمية
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