From laptops to refrigerators, Samsung has managed to make itself an essential part of homes around the world. They have repeatedly flaunted their entrepreneurial prowess by outdoing the competition with their impressive versatility. Their tenacious approach to manufacturing has allowed them to branch out into a stunning array of business ventures. Based in South Korea, this manufacturing giant has managed to dominate the world by producing quality products varying from appliances to ships. The last few years have brought forth an amazing transformation from this innovative company. They managed to go full throttle into branching out while still maintaining the quality that customers trust. While Samsung has long been known for their back to back releases there are many things about this company that would shock & surprise you. We came up with this list to shed light on one of the most influential companies in the world. Sit back & enjoy the raw facts about this international powerhouse.
Discover the Facts About Samsung’s Immense Power
Fact #1: Destined for Greatness – In Korean the word Samsung means “3 stars”. It was chosen by none other than the founder of Samsung Lee Byung-chull. He envisioned that his company would become powerful & everlasting like the stars in the sky. Even though at the time this seemed laughable, he fought tooth & nail to make his dream a reality. Now Samsung is one of the biggest companies on the planet, & has successfully flooded the world with their products.
Fact #2: Humble Beginnings – Things weren’t always easy for the company, they arose from cramped economic conditions to become one of the most influential companies on the planet. In 1938 they started out as Samsung Sanghoe, a grocery trading company. They traded fish products & had only 40 employees who made their own noodles. It’s truly amazing that in 80 years they could evolve into one of the most powerful companies in the world.
Fact #3: Reaching New Heights – Unbeknownst to most we have Samsung to thank for the tallest building on earth. The construction division of Samsung made history when they constructed the Burj Khalifa tower in Dubai in 2009. The tower looms over the city at a shocking 829.8 m (2,722 ft) & took 5 years to complete. It was opened to the public in 2010, & is now the cornerstone of downtown Dubai.
Fact #4: Dominating Economies – Samsung’s massive impact on South Korea’s economy is undisputed. Samsung accounts for 17% of South Korea’s gross domestic product. It is estimated that Samsung pays $12 billion to their South Korean workers alone. However this is just scratching the surface of Samsung’s power. With over 88 companies & 370,000 workers around the world Samsung has evolved into the largest IT company of all time.
Fact #5: Giving Apple a Run For Their Money – There is a heated rivalry between Apple & Samsung. While Apple still dominates smartphone sales in the United States, Samsung is the undisputed champion of South Korea’s smartphone sales. A whopping 60% of South Koreans buy Samsung smartphones & 40% of American’s choose Apple. Samsung is still close to the top of the list of American smartphone suppliers with a sturdy 26%. Even though Apple controls the American cellphone market, Samsung still dwarfs them with the sheer size & diversity of their company.