Samsung – Company Overview

Samsung is one of the most prominent brand names that you can find out there in the world. In fact, people who live in every corner of the world know what Samsung brand is all about. That’s mainly because Samsung is offering a large number of products to the market. These products are being used by people who live in all parts of the world for their day to day needs. This is one of the biggest reasons that has contributed towards the overall popularity of Samsung. You can get impressed with this popularity and take a look at the Samsung company overview.

Samsung is a company that is based in South Korea. Headquarters of this company is located in Samsung Town, which can be found in the capital city of South Korea, Seoul. You can discover a large number of affiliated businesses under the Samsung brand name. It can also be considered as the biggest business conglomerate in South Korea as well.

One of the most prominent industrial affiliates of Samsung include Samsung Electronics. You can call it as the biggest consumer electronics manufacturer out there in the world. On the other hand, you can also call it as the biggest information technology company that you can find out there in the world as well. According to the revenues calculated in the year 2017, Samsung is the largest shipbuilder out there in the world as well. 

Another prominent product offered by Samsung to the people who live out there in the world is Samsung Life Insurance. This is the 14th biggest life insurance company in the entire world. Moreover, Samsung is offering Cheil Worldwide, which is the 15th largest advertising agency in the world.

Samsung is contributing a lot towards the economic development of South Korea. It is even possible to see how the media, politics and culture have heavily been influenced due to the presence of Samsung and its affiliate companies. Revenue generated by Samsung is equivalent to around 17% of the total GDP of the company.

History of Samsung

Samsung was founded back in the year 1938. It was Lee Byung Chul who discovered the company. He was from a large land owning family. He started as a small scale trading company. During the initial stages, Samsung was dealing with dried fish. In addition to that, the company has been trading noodles and groceries, which are grown in the local neighborhood. When the company was moved to Seoul, it was exposed to numerous business opportunities. 

Since then, Samsung as a company has continuously been looking forward to branch out to different industries. In fact, Samsung wanted to become a market leader by offering products that belong to a large number of industries. Along with that, Samsung moved into two different lines of businesses as well. One line included insurance and securities. The other line of business included retail.

Products and services offered by Samsung

When you take a look at the products and services offered by Samsung¸ you will notice how Samsung Electronics has received lots of attention. This is a multinational electronics company. You can even call it as one of the leading electronics companies out there in the world. The electronics company is working closely with the information technology company, which is located in Suwon. 

The products offered by Samsung Electronics to the market include digital televisions, computers, air conditioners, mobile phones. Light emitting diodes, monitors, refrigerators, printers and telecommunications networking equipment. You will also be able to consider Samsung as one of the largest mobile phone manufacturers out there in the world. According to the stats of 2012, Samsung was holding around 25% of the mobile phone sales out there in the world. It is also the second largest semiconductor manufacturer out there in the world. 

Samsung Engineering is another prominent brand that you can find under the Samsung group of companies. This is a multinational construction company. Samsung Engineering was founded in the year 1969. Primary objective of Samsung Engineering is to go ahead and ensure that the construction of oil refining plants are taking place in an effective manner. In addition to that, Samsung Engineering has steel making plants, water treatment facilities and power plants as well. The company has been able to achieve complete revenues worth more than 2 billion won back in the year 2011.

Samsung is offering chemicals as well. These chemicals are offered through the company named Samsung Fine Chemicals. 

On the other hand, you will notice that Samsung Everland is offering its products and services to three of the most prominent industries, which include Food Culture, Environmental and Asset Management and Resorts.

One of the most up and coming companies that you can find under Samsung include Samsung Fire and Samsung Marine Insurance. This can be considered as a multinational general insurance company. The company has got its headquarters located in Seoul. It started its business operations in the year 1952. It offers a large number of services in the insurance industry for the people in need. They include accident insurance, fire insurance, causality insurance, automobile insurance, marine insurance, liability insurance and personal pensions. According to the stats of 2011, Samsung Insurance services were being used by people who lived in 10 different countries in the world. In fact, more than 6.5 million people were using them.

Another prominent industry that Samsung is catering to is the heavy industry, such as engineering and ship building. This service is offered through the headquarters of the company, which is located in Seoul. Samsung started offering these services in the year 1974. One of the primary objectives of this service is to cater the needs of container vessels, bulk carriers, crude oil tankers, passenger ferries, cruisers and material handling equipment. Moreover, this division of Samsung is contributing a lot towards the construction of bridge structures out there in the world as well. 

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