Samsung is a South Korean multinational conglomerate. It was started as a trading company in 1938. The headquarters of the company is located in Samsung Town, Seoul, South Korea. In the 1960s, the company entered into the electronics industry. It is a globally known brand for electronics particularly mobile phones. The chairman of the company is Lee Kun-hee. Apart from electronics, it also has a strong influence in politics, development, and media in South Korea. Here is a quick summary of Samsung’s net worth in 2018.
Samsung Early Life
Samsung was founded in 1938 by Lee Byung-chul, a South Korean businessman. In the beginning, it was a trading company but soon went on to other areas like textiles, retail, securities, insurance, and food processing. After three decades, the company ventured into electronics. This led to the formation of Semiconductor & Telecommunications and Samsung Electronics Devices.
In 1980, the company acquired Hanguk Jeonja Tongsin. It then started to manufacture hardware. Later, they came under Samsung Electronics. After the death of the company’s founder in 1987, the company was divided into CJ Group, Hansol Group, Samsung Group, and Shinsegae Group.
Excluding the Samsung Group, all the other three are independent groups. In the 1980s, the company started to invest in development and research. It created plants in various locations like Portugal, New York, Tokyo, England, and Texas. It has invested over $13 billion in Austin.
In the 1990s, Samsung emerged as an international corporation. The construction branch of the company was able to build the Burj Khalifa in UAE, one of the Petronas Towers in Malaysia, and Taipei’s Taipei 101. In 1992, it became the largest memory chips producer in the world. Samsung is also involved in manufacturing gas turbines and aircraft engines.
In 2012, Samsung became the largest mobile phone maker in the world. A year later, the company came up with ‘Galaxy S4’. Samsung later was involved in a tough competition with Apple. Samsung shut down its streaming service from July 2014.
Samsung received more patents in the USA in 2015. It was more than Apple, Google, IBM, Microsoft, and Sony. A year later, the company released Gear Fit 2, which is a fitness smartwatch. It was followed by Gear S3.
In 2017, the company unveiled the new high-end phones Samsung Galaxy S8 and S8+. Later in August, the company unveiled the flagship of Samsung Galaxy Note8. It also announced many mid-range and low-range phones.
Awards & Achievements
In 2015, Samsung was the 2nd largest information technology company in the world in terms of revenue. In 2016 and 2017, the company was named as the best in terms of Customer Service. At the Customer Fest Award in 2016, it won the Best Contact Centre Award. It also won the Mobility Excellence Award in 2017. In 2014, it won the Golden Peacock Award. It is the winner of the 2017 AdGully DIGIXX Award and has won the Exhibit Tech Award of 2015. It has won the Global Mobile Awards of 2017.
Net Worth of Samsung
The estimated net worth of Samsung is more than $220 billion. It makes revenue of over $175 billion and has got assets worth over $288 billion. It has a steep development right from its inception in the 1930s. By expanding in the electronics industry, particularly mobile phones, the company has established itself as one the world’s largest manufacturer of mobile phones. Globally, the market share of the company is 17.8%. It has also acquired many other leading brands and is involved in many other developments.
Samsung is one of the top known brands in the world. It is a leading giant of the mobile phone manufacturing. Samsung has sponsored several events in the world. With the world going fast in IT industry, Samsung has helped many with its mobile phones to keep pace with the IT world.