Samsung
History
Samsung, officially known as Samsung Group, is a South Korean multinational conglomerate. Its headquarters, the Samsung Town, is located in Seoul. It was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group diversified into areas including food processing, textiles, insurance, securities, and retail.
Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth. Following Lee's death in 1987, Samsung was separated into four business groups – Samsung Group, Shinsegae Group, CJ Group, and Hansol Group.
Electronics
Samsung Electronics, a subsidiary of the Samsung Group, is a global leader in semiconductors, telecommunications, and digital media technologies. It is the world's largest manufacturer of mobile phones and smartphones, starting with the original Samsung Solstice and later, the popularity of its Samsung Galaxy line of devices.
Samsung Electronics is also a major manufacturer of electronic components such as lithium-ion batteries, semiconductors, image sensors, camera modules, and displays for clients such as Apple, Sony, HTC, and Nokia. It is the world's largest manufacturer of LCD panels, and in 2012, Samsung Electronics became the world's largest mobile phone maker by unit sales, overtaking Nokia, which had been the market leader since 1998.
Shipbuilding and Heavy Industries
Samsung Heavy Industries, another subsidiary of the Samsung Group, is one of the largest shipbuilders in the world. The company focuses on building high added-value and technically complex large vessels, including LNG carriers, drill ships, container vessels, and Arctic shuttle tankers.
The company also operates in the construction industry, providing solutions for bridges, skyscrapers, and more. It has been involved in some of the most iconic construction projects worldwide, including the Burj Khalifa in Dubai and the Petronas Towers in Malaysia.
Affiliates and Acquisitions
Samsung has a powerful influence on South Korea's economic development, politics, media, and culture, and has been a major driving force behind the "Miracle on the Han River". Its affiliate companies produce around a fifth of South Korea's total exports.
Samsung has made numerous acquisitions over the years to bolster its diverse array of businesses. These include the purchase of Harman International Industries, a leading company in connected car technology, lifestyle audio innovations, design analytics, cloud services, and IoT solutions.
Criticism and Controversies
Samsung has faced numerous criticisms for its business practices, including alleged corruption and its handling of worker safety and health issues. The company has also been involved in several patent lawsuits, most notably with its competitor, Apple.
Despite these controversies, Samsung continues to be a major player in the global market, with its products and services reaching consumers in virtually every corner of the globe.