1938-03-01 to Present
KoreaSamsung is a South Korean multinational conglomerate headquartered in Samsung Town, Seoul. It comprises numerous affiliated businesses, most of them united under the Samsung brand, and is the largest South Korean chaebol (business conglomerate).
In 1938, Lee Byung-chul (1910–1987) of a large landowning family in the Uiryeong county moved to nearby Daegu city and founded Samsung Sanghoe (삼성상회, 三星商會). Samsung started out as a small trading company with forty employees located in Su-dong (now Ingyo-dong). It dealt in dried-fish, locally-grown groceries and noodles.
In 1980, Samsung acquired the Gumi-based Hanguk Jeonja Tongsin and entered telecommunications hardware. Its early products were switchboards. The facility was developed into the telephone and fax manufacturing systems and became the center of Samsung's mobile phone manufacturing. They have produced over 800 million mobile phones to date. The company grouped them together under Samsung Electronics in the 1980s.
The Samsung Medical Center was founded on 9 November 1994, under the philosophy of "contributing to improving the nation's health through the best medical service, advanced medical research and development of outstanding medical personnel". The Samsung Medical Center consists of a hospital and a cancer center. The hospital is located in an intelligent building with floor space of more than 200,000 square meters and 20 floors above ground and 5 floors underground, housing 40 departments, 10 specialist centers, 120 special clinics and 1,306 beds.The 655-bed Cancer Center has 11 floors above ground and 8 floors underground, with floor space of over 100,000 square meters. SMC is a tertiary hospital manned by approximately 7,400 staff including over 1,200 doctors and 2,300 nurses. Since its foundation, the Samsung Medical Center has successfully incorporated and developed an advanced model with the motto of becoming a "patient-centered hospital", a new concept in Korea.
Samsung Techwin acquired German camera-maker Rollei in 1995. Samsung (Rollei) used its optic expertise on the crystals of a new line of 100% Swiss-made watches, designed by a team of watchmakers at Nouvelle Piquerez S.A. in Bassequort, Switzerland. Rolex's decision to fight Rollei on every front stemmed from the close resemblance between the two names and fears that its sales would suffer as a consequence. In the face of such a threat, the Geneva firm decided to confront. This was also a demonstration of the Swiss watch industry's determination to defend itself when an established brand is threatened. Rolex sees this front-line battle as vital for the entire Swiss watch industry. Rolex has succeeded in keeping Rollei out of the German market. On 11 March 1995, the Cologne District court prohibited the advertising and sale of Rollei watches on German territory.
Samsung grew to be the world's largest manufacturer of liquid-crystal display panels. Sony, which had not invested in large-size TFT-LCDs, contacted Samsung to cooperate, and, in 2006, S-LCD was established as a joint venture between Samsung and Sony in order to provide a stable supply of LCD panels for both manufacturers. S-LCD was owned by Samsung (50% plus one share) and Sony (50% minus one share) and operates its factories and facilities in Tangjung, South Korea.
On 24 August 2012, nine American jurors ruled that Samsung Electronics had to pay Apple $1.05 billion in damages for violating six of its patents on smartphone technology. The award was still less than the $2.5 billion requested by Apple. The decision also ruled that Apple did not violate five Samsung patents cited in the case. Samsung decried the decision saying that the move could harm innovation in the sector. It also followed a South Korean ruling stating that both companies were guilty of infringing on each other's intellectual property.
In December 2012, Samsung announced that it had acquired the privately held storage software vendor NVELO, Inc., based in Santa Clara, California. NVELO will become part of Samsung's R&D operations, and will focus on software for intelligently managing and optimizing next-generation Samsung SSD storage subsystems for consumer and enterprise computing platforms.
On 14 August 2014, Samsung acquired SmartThings, a fast-growing home automation startup. The company isn't releasing the acquisition price, but TechCrunch reported a $200 million pricetag when first caught word of the deal in July 2014.
On 19 August 2014, Samsung said it had acquired U.S. air conditioner distributor Quietside LLC as part of its push to strengthen its "smart home" business. A Samsung Electronics spokesman said the South Korean company acquired 100 percent of Quietside, but declined to elaborate on the price or other details.
However, in early September 2016, Samsung suspended sales of the phone and announced an informal recall. This occurred after some units of the phones had batteries with a defect that caused them to produce excessive heat, leading to fires and explosions. Samsung replaced the recalled units of the phones with a new version; however, it was later discovered that the new version of the Galaxy Note 7 also had the battery defect. Samsung recalled all Galaxy Note7 smartphones worldwide on 10 October 2016, and permanently ended production of the phone the following day.