Samsung facts


Samsung Group is a South Korean multinational conglomerate headquartered in Samsung Town, Seoul.

  • It comprises numerous affiliated businesses, most of them united under the Samsung brand, and is the largest South Korean chaebol (business conglomerate).
  • Samsung 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. 
  • Since 1990, Samsung has increasingly globalised its activities and electronics; in particular, its mobile phones and semiconductors have become its most important source of income. 
  • As of 2020, Samsung has the 8th highest global brand value.
  • Notable Samsung industrial affiliates include: 
    • Samsung Electronics (the world's largest information technology company, consumer electronics maker and chipmaker measured by 2017 revenues), 
    • Samsung Heavy Industries (the world's 2nd largest shipbuilder measured by 2010 revenues), and 
    • Samsung Engineering and Samsung C&T (respectively the world's 13th and 36th largest construction companies). 
  • Other notable subsidiaries include Samsung Life Insurance (the world's 14th largest life insurance company), Samsung Everland (operator of Everland Resort, the oldest theme park in South Korea) and Cheil Worldwide (the world's 15th largest advertising agency, as measured by 2012 revenues).
  • 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's revenue was equal to 17% of South Korea's $1,082 billion GDP.

What is Samsung means
According to Samsung's founder, the meaning of the Korean hanja word Samsung is "three stars". The word "three" represents something "big, numerous and powerful" while "stars" means everlasting or eternal, like stars in the sky.

Samsung has made the following acquisitions and attempted acquisitions:

  • Rollei – Swiss watch battle
    • Samsung Techwin acquired the German camera manufacturer Rollei in 1995. Samsung (Rollei) used its optic expertise on the crystals of a new line of 100% Swiss-made watches, designed by a team of watchmakers at Nouvelle Piquerez S.A. in Bassecourt, Switzerland. 
    • Rolex's decision to fight Rollei on every front stemmed from the close resemblance between the two names and fears that its sales would suffer as a consequence. 
    • In the face of such a threat, the Geneva firm decided to confront. This was also a demonstration of the Swiss watch industry's determination to defend itself when an established brand is threatened. 
    • Rolex sees this front-line battle as vital for the entire Swiss watch industry. Rolex has succeeded in keeping Rollei out of the German market. 
    • On 11 March 1995, the Cologne District court prohibited the advertising and sale of Rollei watch on German territory. 
    • In 1999, Rollei management bought out the company.
  • Fokker – Dutch aircraft maker
    • Samsung lost a chance to revive its failed bid to take over Dutch aircraft maker Fokker when other airplane makers rejected its offer to form a consortium. 
    • The three proposed partners—Hyundai, Hanjin and Daewoo—notified the South Korean government that they would not join Samsung Aerospace Industries.
  • AST Research
    • Samsung bought AST (1994) in a failed attempt to break into the North American computer market. Samsung was forced to close the California-based computer maker following mass resignations of research staff and a string of losses.
  • FUBU – clothing and apparel
    • In 1992, American fashion entrepreneur Daymond John started the company with a hat collection that was made in the basement of his house in the Queens area of New York City. 
    • To fund the company, John had to mortgage his house for $100,000. 
    • With his friends J. Alexander Martin, Carl Brown and Keith Perrin, half of his house was turned into the first factory of FUBU, while the other half remained as the living quarters. Along with the expansion of FUBU, Samsung invested in FUBU in 1995.
  • Lehman Brothers Holdings' Asian operations
    • Samsung Securities was one of a handful of brokerages looking into Lehman Brothers Holdings. 
    • But Nomura Holdings has reportedly waved the biggest check to win its bid for Lehman Brothers Holdings' Asian operations, beating out Samsung Securities, Standard Chartered and Barclays. 
    • Ironically, after few months Samsung Securities Co., Ltd. and City of London-based N M Rothschild & Sons (more commonly known simply as Rothschild) have agreed to form a strategic alliance in investment banking business. 
    • Two parties will jointly work on cross border mergers and acquisition deals.
  • MEDISON Co.,Ltd. – ultrasound monitors
    • In December 2010, Samsung Electronics bought MEDISON Co., a South Korean medical-equipment company, the first step in a long-discussed plan to diversify from consumer electronics.
  • Grandis Inc. – memory developer
    • In July 2011, Samsung announced that it had acquired spin-transfer torque random access memory (MRAM) vendor Grandis Inc.[59] Grandis will become a part of Samsung's R&D operations and will focus on the development of next-generation random-access memory.
  • Samsung and Sony joint venture – liquid crystal displays
    • On 26 December 2011 the board of Samsung Electronics approved a plan to buy Sony's entire stake in their 2004 joint liquid crystal display (LCD) venture for 1.08 trillion won ($938.97 million).
  • mSpot, Inc – music service
    • On 9 May 2012, mSpot announced that it had been acquired by Samsung Electronics with the intention of a cloud-based music service.The succeeding service was Samsung Music Hub.
  • NVELO, Inc. – cache software developer
    • In December 2012, Samsung announced that it had acquired the privately held storage software vendor NVELO, Inc., based in Santa Clara, California.
    • NVELO will become part of Samsung's R&D operations, and will focus on software for intelligently managing and optimizing next-generation Samsung SSD storage subsystems for consumer and enterprise computing platforms.
  • NeuroLogica – portable CT scanner
    • In January 2013, Samsung announced that it has acquired medical imaging company NeuroLogica, part of the multinational conglomerate's plans to build a leading medical technology business. 
    • Terms of the deal were not disclosed.
  • SmartThings – home automation
    • On 14 August 2014, Samsung acquired SmartThings, a fast-growing home automation startup. 
    • The company did not release the acquisition price, but TechCrunch reported a $200 million price tag when it first caught word of the deal in July 2014.[65]
  • Quietside – U.S. air conditioner firm
    • On 19 August 2014, Samsung said it had acquired U.S. air conditioner distributor Quietside LLC as part of its push to strengthen its "smart home" business. 
    • A Samsung Electronics spokesman said the South Korean company acquired 100 percent of Quietside, but declined to elaborate on the price or other details.
  • Proximal Data – data virtualization
    • 3 November 2014, Samsung announced it had acquired Proximal Data, Inc., a San Diego, California-based pioneer of server-side caching software with I/O intelligence that work within virtualized systems.
  • LoopPay – U.S. mobile payments firm
    • On 18 February 2015, Samsung acquired U.S.-based mobile payments firm "LoopPay" – This allows Samsung in smartphone transactions.
  • YESCO Electronics – U.S.-based manufacturer of light-emitting diode displays
    • On 5 March 2015, Samsung acquired small U.S.-based manufacturer of light-emitting diode displays, YESCO Electronics, which focuses on making digital billboards and message signs.
  • Viv – intelligent personal assistant
    • On 5 October 2016, Samsung announced it had acquired Viv, a company working on artificial intelligence.
  • Rich Communications Services – text messaging standard
    • On 15 November 2016, Samsung Canada announced it has acquired Rich Communications Services, a company working on a new technology for text messaging.