Samsung Electronics (SEC, Hangul:삼성전자; KRX: 005930, KRX: 005935, LSE: SMSN, LSE: SMSD) is the world's largest consumer electronics company, headquartered in Seocho Samsung Town in Seoul, South Korea. It is the largest South Korean company and the flagship subsidiary of the Samsung Group.
Samsung Electronics is the global market leader in more than 60 products, including Semiconductors such as DRAM, SDRAM, Flash Memory and Hard Drives, Digital Displays such as LCD Displays, Plasma Displays and OLED Displays, Home Electronics such as TVs, DVD Players, Blu-ray Players, Home Cinema Systems, Set-Top Boxes and Projectors, Mobile Devices such as Mobile Phones, MP3 Players, Digital Cameras and Camcorders, Computing Products such as Monitors, Laptops, UMPCs, CD and DVD Drives, Laser Printers and Fax Machines and Home Appliances such as Refrigerators, Washing Machines, Microwaves, Ovens, Vacuum Cleaners and Air Conditioners.
In 2005, Samsung surpassed Japanese rival Sony for the first time to be rated as the new leading and most popular consumer electronics brand in the world by Interbrand. In 2007, Samsung Electronics' handset division overtook American rival Motorola, making it the world's second largest mobile phone maker. At the end of 2007, Samsung Electronics exceeded the $100 billion mark in annual sales for the first time in its history. This achievement places the company, along with Siemens of Germany and Hewlett-Packard of the U.S., among the world's top three companies in the electric appliances and electronics industry.
History
The Samsung Group was founded in 1938 by Lee Byung-chul (1910-1987). It was incorporated in 1951 as Samsung Corporation. The meaning of the Korean word Samsung is "tristar" or "three stars". See Wikipedia article for Samsung Group.
Samsung Electronics was founded in 1969 in Daegu, South Korea as Samsung Electric Industries originally manufacturing electronic appliances such as TVs, calculators, refrigerators, air conditioners and washers. By 1981, the company had manufactured over 10 million black and white TVs. In 1988, it merged with Samsung Semiconductor & Communications.
Market ascendance
Samsung is a top rated electronic & IT brand in various reports. In 2006, Business Week rated Samsung as 20th on the Top 100 global brands and the Number 2 in the electronics industry.[3] Business Week also ranked Samsung as #20 in a ranking of the "Top 100 Most Innovative Companies" in a special report published April 24, 2006. [4] In January 2007, BrandFinance ranked the company as the Number 1 global brand in electronics.
The semiconductor division of Samsung Electronics is the world's largest memory chip and second largest semiconductor manufacturer worldwide.[6] In particular this has been the case for DRAM and SRAM for over a decade. Samsung, the world's largest LCD manufacturer, plans to begin running its eighth-generation manufacturing line to make 57-inch panels during the second half of the year.
In 2007, Samsung became the world's second largest mobile phone manufacturer, surpassing Motorola, just behind Nokia.
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