The modern world is replete with tech equipment and gadgets; seldom do we feel the urge to dive into the origins of the brands that bring us these gadgets. With this blog, we will try to decipher the history of Samsung, a tech giant today that started with humble beginnings that only a few people know about.
It was in the year 1960 that Samsung ventured into electronics. Before that, the Samsung Group had ventured into a slew of different businesses. After the founder Lee Byung Chul died, the company was divided into five business groups: the Samsung Group, Shinsegae Group, CJ Group, Hansol Group, and JoongAng Group.
But much before that, the company was founded in the year 1938. In its heyday, Samsung was a trading company with only 40 employees located in Sungdong. It dealt in dried fish, locally grown groceries, and noodles. As the company prospered, Lee thought of moving its head office to Seoul in 1947. It was when the Korean War broke out that Lee was forced to leave Seoul.
It was Lee’s ambition for Samsung to be a leader across multiple industries, and hence, Samsung expanded into sectors such as insurance, securities, and retail.
Journey After 1960:
Samsung Group entered the electronics industry in the year 1960 and started to produce several electronics-related divisions, such as Samsung Electronics Devices, Samsung Electro-Mechanics, Samsung Corning, and Samsung Semiconductor and Telecommunications, and then opened a facility in Suwon. The first device it ever created was a black and white television set. The brand at that time was also helped by the fact that Byung Chul was also the owner of the Tongyang Broadcasting Company, a private radio and television company that existed from 1964 to 1980. The broadcast further helped Samsung to boost the sales of its television sets across the country.
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