Samsung Group Research Paper Example | Topics and Well Written Essays - 3000 words

Samsung Group - Research Paper Example The company was founded in 1938 by Lee Byung-chull in Daegu City. The company’s first name of incorporation was Samsung Sanghoe. The company started off small with forty employees. It was initially a trading company whose dealings involved locally grown groceries and noodles. After the progress of the enterprise and its flourishing, the owner of the business decided to move Samsung Sanghoe to Seoul. Byung-chull had to move the company to Busan during the Korean War, and the company started trading in a woolen mill. The company then diversified to different regions in the world and begun to trade in various commodities. The company became Samsung Group in 1947 after the two founders of Samsung Trading Corporation went into conflict. Samsung Group went into the electronics business in the 1960s. There were several electronic divisions’ formation from the company. The first product from Samsung Electronics was a black and white television. The company entered the telecommunications market in the 1980s(SG, 2011). The earliest products from the company were switchboards. The company rose to become an international company in the 1990s exporting their products to Europe and America. They were the world’s largest producers of memory chips in 1992. The company is notable in being able to survive the 1997 Asian market crisis. The company eventually moved to Digital television and Smartphones in the 2000s. It was possible for them as they opened a computer programming lab in Warsaw, Poland. It is the largest producer of smartphones in terms of unit sales.