Exciting facts about Samsung

Exciting facts about Samsung

Samsung History

We are talking about one of the most successful cell phone manufacturers in the world and the largest and most valuable South Korean conglomerate which is none other than Samsung whether you're an Apple fan or a dedicated Android user you have to respect the success of this dominant conglomerate that offers not only some of the best cell phones in the industry but also a variety of other electronic life insurance security transportation and other products too the company had humble beginnings in 1938 when it was established by 'Lee Byung-ho' what started as primarily a grocery store expanded into various sectors eventually becoming known as the Samsung Group. Samsung was able to read the market and determine what avenues could be most advantageous this is what led them to focus heavily on electronics starting in the late 1960s with their first electronic product being a black and white television Samsung became a dominant player in the market when they started developing their smartphone technology they were the first to develop wireless charging phones and they continued to innovate applying for nearly ten thousand patients annually Samsung is a significant South Korean company its affiliate companies produce about 8/5 of South Korea's total exports and the revenue is regularly about 17% of Korea's total GDP hey Luxor this company is proof that you can take a humble company and build it into a multi-billion dollar corporation that we've gone over the background let's look at the Samsung history. 

1. The name Samsung means three stars

The name Samsung means three stars Samsung gets its name from a combination of two Korean words Sam which means three and sung which means stars the name was chosen by the founder of the company because he thought the name embodied power and longevity in the Korean language three is the representation of something big and powerful and the founder envisioned his company as growing to be big powerful and as long-lasting as the Stars.

2. Samsung owns over 100 thousand patents worldwide

Samsung owns over 100 thousand patents worldwide Samsung was granted the most US patents out of any company in 2016 they overtook IBM who were granted the most in 2015 Samsung was granted 8551 patents in 2016 compared to IBM's eight thousand and sixty two Samsung received more than double the patents of LG Google Microsoft and Apple Samsung has an incredible 100,000 plus patents worldwide.

3. Samsung donates over 100 million dollars per year to its nonprofit medical charity

Samsung donates over 100 million dollars per year to its nonprofit medical charity Samsung is an incredibly charitable company and one of their main charitable endeavors is the Samsung Medical Center which is a non-profit health care provider that consists of several medical facilities including the largest Cancer Centre in Asia which is the Samsung Cancer Centre in Seoul South Korea they donate over 100 million dollars every year to these medical centers.

4. Samsung originated as a trading company that specialized in noodles

Samsung originated as a trading company that specialized in noodles when Lee Byung Chul established Samsung in 1938 it was a small trading company that specialized in noodles dried fish and local grocery items the company later expanded into insurance securities and retail they didn't enter the field of electronics until the late 1960s with the boom of television and the development of other technologies.

5. The family that owned Samsung is the richest in South Korea

The family that owned Samsung is the richest in South Korea the Jae-young family is the wealthiest family in all of South Korea thanks to the tremendous success of the Samsung company the family is worth sixteen point eight billion dollars which is more than twice as much as South Korea's second richest family which is worth about 6.7 billion.

6. Samsung manufactured aircraft from the 1980s to the 1990s

Samsung manufactured aircraft from the 1980s to the 1990s Samsung has had their hands in several different industries but you might be surprised to learn they actually manufactured aircraft for over ten years Korea aerospace industries was a joint venture between Samsung aerospace Daewoo Heavy Industries and the hand-eye space and craft company and together they developed and sold a few models of aircraft from the 80s to the 90s although Samsung is no longer a part of this venture they still manufacture aircraft engines and gas turbines.

7. Apple sued Samsung for 2.5 billion dollars in 2012

Apple sued Samsung for 2.5 billion dollars in 2012 Apple sued Samsung for 2.5 billion dollars for allegedly violating six of its patents on smartphone technology the lawsuit ended in a jury and nine American jurors ruled that Samsung had to pay Apple 1.05 billion dollars in damages however a South Korean court ruled that both companies infringed on each other's times but no damages were awarded to either side Apple also sought to block the sale of eight Samsung phones but they were unsuccessful.

8. Several celebrity endorsers of Samsung have been caught              using iPhones

Several celebrity endorsers of Samsung have been caught using iPhones Samsung has many celebrities that they have paid millions to endorse their phones including LeBron James Jessica Alba Adam Levine Alicia Keys Ellen DeGeneres and Oprah Winfrey however every celebrity I just mentioned has outed themselves in one way or another for being an iPhone user, for example, Adam Levine was paid to endorse Samsung at the launch event for the galaxy note 4 where he even announced that there should be a ceremonial iPhone burning however not too long after he tweeted from his iPhone about a visit to the Ellen DeGeneres Show and several people pointed out the hypocrisy the tweet was removed shortly after but the troupe's was already out there.

9. The CEO of Samsung burned fifty million dollars in product        in one day

The CEO of Samsung burned fifty million dollars in product in one day in the early 1990s Samsung CEO Kun-hee Lee became disgusted with what he saw as the low-quality products of the company he gathered 2,000 workers and a massive stock of hardware in the yard of one of his factories and he lit a massive bonfire and started burning a huge amount of products including phones TVs and fax machines an estimated 50 million dollars worth of product was burned on that day in 1995 from then on Samsung's top priority has been quality.

10. Samsung invested in fubu

Samsung invested in fubu is a well-known brand developed by the self-made millionaire Daymond John it was established in 1992 and Samsung helped and launched into popularity with its investment in 1995 Samsung actually connected with FUBU after Damon's mother placed an ad in The New York Times looking for backers when Samsung invested in fubu they would ultimately underwrite the manufacturing contributing greatly to the company's success.

So, guys, I meet you with my next blog and you have any suggestions for me tell on the comment section.


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