Samsung was founded in 1938 in Daegu, South-Korea by Lee Byung-chul. The company originally started as a trading company that mainly produced and exported groceries. Throughout the 1950s and 1960s, as the company began to grow, Samsung got into other businesses like insurance, retail, securities, and textiles.
During the late 1960s, Samsung entered the electronics industry with the name Samsung Electronics. Not long after that, its first black and white TV was released. In the 1970s, the company expanded its business into making washing machines, refrigerators, and microwaves.
Samsung Electronics strongly focused on the electronics sector in the 1980s after acquired the giant in telecommunication, Hanguk Jeonja Tongsin, by producing colour …show more content…
Many manufacturing plants were built in Portugal, the US, the UK, Mexico, and Vietnam.
Nowadays, Samsung BP Chemicals holding companies and subsidiaries are formed under the name Samsung Electronics Co., Ltd, making it one of the largest corporations in the tech world. Interbrand estimated the value of Samsung's 2016 brand at $ 51.8 …show more content…
After a few weeks of launching its key product smartphone, the Galaxy Note 7, the Korean company had to recall all devices it had delivered in the market, after reports of overheating caused battery explosion. However, the company stopped production and abandoned the product entirely. Overall, the financial impact estimation indicated the cost of more than $ 6 billion USD. But the biggest concern is about the long-term success on the Samsung brand. After all, it is one of the most precious global brands. Just before the launching, in the second quarter of 2016, the sale volume of Samsung mobile is more than 78 million smartphones worldwide.
Note 7 crisis is limited to a single product Samsung, although the source of the problem is still unclear, the overheating problem clearly does not extend to other Samsung smartphones, let alone with other electronic mobile devices of it. This case of Samsung is an interesting case study, the company has been stressed by its customer’s reaction after such product
During the late 1960s, Samsung entered the electronics industry with the name Samsung Electronics. Not long after that, its first black and white TV was released. In the 1970s, the company expanded its business into making washing machines, refrigerators, and microwaves.
Samsung Electronics strongly focused on the electronics sector in the 1980s after acquired the giant in telecommunication, Hanguk Jeonja Tongsin, by producing colour …show more content…
Many manufacturing plants were built in Portugal, the US, the UK, Mexico, and Vietnam.
Nowadays, Samsung BP Chemicals holding companies and subsidiaries are formed under the name Samsung Electronics Co., Ltd, making it one of the largest corporations in the tech world. Interbrand estimated the value of Samsung's 2016 brand at $ 51.8 …show more content…
After a few weeks of launching its key product smartphone, the Galaxy Note 7, the Korean company had to recall all devices it had delivered in the market, after reports of overheating caused battery explosion. However, the company stopped production and abandoned the product entirely. Overall, the financial impact estimation indicated the cost of more than $ 6 billion USD. But the biggest concern is about the long-term success on the Samsung brand. After all, it is one of the most precious global brands. Just before the launching, in the second quarter of 2016, the sale volume of Samsung mobile is more than 78 million smartphones worldwide.
Note 7 crisis is limited to a single product Samsung, although the source of the problem is still unclear, the overheating problem clearly does not extend to other Samsung smartphones, let alone with other electronic mobile devices of it. This case of Samsung is an interesting case study, the company has been stressed by its customer’s reaction after such product