Hi, this is Wayne again with a topic “How Samsung TOOK OVER Tech!”.
Samsung means three stars in Korean, but if you’re the proud owner of a fancy, Samsung phone TV or washing machine, you might be expecting a five star experience due to Samsung positioning itself as a premium tech brand with price tags to match, but expensive gadgets weren’t. What Samsung was always known for, in fact, the companies started all the way back in 1938 in the Korean city of Teague, as a trading firm that dealt in foods like dried fish and noodles and then later expanded to Seoul Korea’s capital after World War. Two ended: this period of prosperity was short-lived. However, as after the invasion of that city during the Korean War, samsung nearly went under only surviving thanks to its diversification, the company actually established a sugar refinery in the port city of Busan, which was the only major city in Korea that was untouched by communist aggression. Samsung also got involved in textiles and wood milling and as war economies are often kind to the manufacturing industry.
Samsung’S new businesses helped them not only stay afloat but continued to expand after the war, with insurance being one of their first divisions that didn’t involve commodity trading. In fact, Samsung is actually the largest insurance company in Korea. To this day, all of this growth led Samsung to become one of the chapel’s or massive Korean companies that are primarily family-run, rather than mostly controlled by shareholders who have bought stock, meaning that they became very influential in national politics in Korea. But it wasn’t until 1969 that Samsung started making electronics and perhaps unsurprisingly, their first product was a small black and white television. They continued to expand in the early 1970s by cranking out home appliances, but there was an obstacle in their way. Samsung was relying on imports of small components in order to assemble their products, so in 1974 they decided to buy a domestic semiconductor company in order to have greater control over their supply chain. Although this decision wasn’t unanimous among the Samsung brass, it played a huge role in Samsung’s future fortunes having its own semiconductor manufacturing arm allowed the company to make more electronics and ship them to more distant parts of the globe, bringing in more money and helping them grow. Samsung then ventured into heavy industry, defense, construction, chemicals and even a theme park and hotels.
In fact, they still run a chain of luxury hotels in Korea, with the original location once serving as the official guest house for the Korean government, but getting back to electronics, samsung started producing drm in the early 1980s, a product they’re still known for thanks to its Earlier investment in manufacturing with help from micron and sharp now, the timing for this was great as more and more devices were starting to use DRM, but not all was well in samsung land, unlike today where Samsung products are generally viewed as higher-end, it’s electronics from the 1980S and early 90s were poorly received, and ironically, this was especially true for their mobile phones. In fact, they had such a reputation for poor quality that Japan based Motorola dominated the market, even in their home turf of South Korea, for quite some time, which is interesting when you consider that Korea and Japan have historically had pretty frosty relations, this actually nearly led Samsung to abandon the phone market completely, but instead of giving up, they decided to spend time figuring out how to make higher quality consumer goods instead of just churning out cheapo bargain-basement offerings. So Samsung underwent a huge transformation in its electronics division. 24,000 workers were laid off and huge parts of the company totaling around 2 billion dollars were sold.
Then, instead of trying to rush the next big thing to market Samsung focused on making quality components both to sell to other companies and to help them improve their own consumer devices, down the road and, of course, as a massive cheville, they had quite a bit of Money to pour into development, this ended up paying huge dividends and Samsung, of course, did ultimately become a premium brand. For example, they started making LCD displays fairly early on in the 1990s. That meant that by the time they really started catching on with consumers. Samsung had already spent years perfecting them, which set the stage for them to become one of the world’s largest manufacturers of flat-screen TVs and monitors. This same strategy also helped Samsung become a leader in the Android mobile phone market. Now, although their galaxy obviously wasn’t their first Android phone, it was one of the first to showcase more advanced features than the iPhone helping Samsung become a real rival to Apple to the point where they ended up doing some pretty clever marketing poking fun. At the hype surrounding new iDevice releases, which really got consumers to start considering Samsung as a serious premium, alternative Samsung’s success in the mobile market did come with some unexpected consequences, though, and the hospital that they run in Seoul actually has to give out discounted treatments for Swipe induced carpal tunnel these days that last bit was a joke. There’S no discounted treatment, although they do actually run a hospital in Seoul.
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