Samsung (OTC: SSNLF) is a multinational conglomerate headquartered in Seoul, South Korea, renowned globally for its diverse portfolio of businesses, particularly in electronics, appliances, and mobile communications. From its origins as a small trading company, Samsung has evolved into a technological powerhouse, shaping industries and influencing daily lives across the globe. Its journey is a testament to strategic diversification, relentless innovation, and a persistent drive for quality and market leadership.
Foundation and Early Years
Samsung's story began on March 1, 1938, when Lee Byung-chul founded a modest grocery trading store in Taegu, Korea. The name "Samsung," meaning "three stars" in Korean, reflected Lee Byung-chul's ambitious vision for the company to be large, strong, and enduring. Initially, Samsung's business model revolved around trading noodles and other local goods, exporting them to China and its provinces, and marketing Korean dried fish and vegetables.
The early years were fraught with challenges, particularly the tumultuous period of the Korean War. In 1950, Lee Byung-chul was forced to relocate his business to Busan. This relocation, however, inadvertently provided an opportunity for growth, as the influx of U.S. troops and equipment into Busan during the war significantly boosted Samsung's trading operations. Following the war, Lee Byung-chul shifted his focus towards industrialization, aiming to contribute to Korea's redevelopment. This led to Samsung's diversification into textiles, with the establishment of Korea's largest woolen mill, and further expansion into food processing (including a sugar refinery), insurance, securities, and retail. Despite government directives in 1961 that saw Samsung relinquish control over acquired banks, the company continued its strategic diversification, notably entering the electronics industry in the late 1960s with its first products being black-and-white televisions.
Growth and Development
The 1960s marked Samsung's pivotal entry into the electronics industry with the establishment of Samsung Electronics Co., Ltd. This move laid the groundwork for its future dominance. Throughout the 1970s, Samsung expanded its electronics product line to include color TVs, refrigerators, air conditioners, and washing machines, initiating overseas exports. Concurrently, Samsung ventured into heavy industries like shipbuilding, chemicals, and petrochemicals, and acquired a 50% stake in Korea Semiconductor, signaling its strategic entry into the semiconductor business. In 1980, the acquisition of Hanguk Jeonja Tongsin propelled Samsung into the telecommunications hardware industry, initially producing telephone switchboards.
The 1980s and 1990s were characterized by rapid technological growth and aggressive global expansion. Samsung Data Systems (now Samsung SDS) was founded in 1985, addressing the burgeoning demand for systems development. Significant investments in research and development led to breakthroughs in semiconductor technology, culminating in the release of Samsung's first personal computer, the SPC-1000, and its first homegrown product, a 64Kb DRAM chip, in 1983. By 1992, Samsung had ascended to become the world's largest producer of memory chips. Global expansion intensified with manufacturing subsidiaries established in Portugal (1982), the United States (1984), and the United Kingdom (1987). In 1988, Samsung launched its first mobile phone in the South Korean market. Under the leadership of Lee Kun-Hee, who took the helm in 1987, Samsung underwent a transformative "new management" initiative, emphasizing global competitiveness and quality. This period saw the introduction of Samsung's first liquid-crystal display (LCD) screen in 1995 and the world's first digital television in 1998.
The 2000s ushered in Samsung's smartphone dominance with the highly successful Galaxy series, which quickly became a global best-seller. Samsung became the top-selling global manufacturer of televisions in 2006. In 2010, the Galaxy series expanded to tablet computers with the introduction of the Galaxy Tab. Samsung surpassed Apple in worldwide smartphone sales in the third quarter of 2011 and solidified its position as the world's largest smartphone manufacturer in 2012.
Major Achievements
Samsung's journey is punctuated by a remarkable series of industry innovations, widespread recognition, and sustained market leadership. The company has consistently pushed technological boundaries, introducing numerous "world's firsts" and setting new industry standards.
In display technology, Samsung has been a global leader, continuously refining AMOLED and QD-OLED displays and pioneering LCD, QLED, and 8K resolution technologies. They introduced the world's first LED TV and 3D HD LED TV. A groundbreaking innovation has been its foldable smartphone technology, with the Galaxy Z Fold and Z Flip series offering enhanced durability, seamless multitasking, and cutting-edge display quality, leading to Samsung dominating the foldable phone market.
Samsung has been a major player in the global semiconductor industry since releasing its first 64Kb DRAM chip in 1983. They have developed numerous "world's firsts" in DRAM and NAND flash memory, including the first 1Gb NAND flash in 1999, and have consistently led the flash memory market. In mobile technology, Samsung's Galaxy series of smartphones has been a significant success, rivaling the iPhone and pushing the limits of mobile innovation. They introduced the Galaxy S, enabling HD video with a fast graphics processing unit, and the Galaxy S II, a powerful smartphone for its era. Samsung also unveiled the world's first built-in 5G smartphone, the Galaxy S10 5G. Furthermore, Samsung has heavily invested in Artificial Intelligence (AI), integrating deep learning for advanced photo and video editing, real-time voice translation, and personalized app suggestions in its latest Galaxy AI. Their AI-powered cameras offer ProVisual Engine for optimized photography, and Bixby assistant has been enhanced with AI-driven automation. Samsung is also leading the way in connected living, creating smart device ecosystems through its SmartThings platform.
Samsung consistently receives prestigious awards and recognition for its design excellence, innovation, and sustainability efforts. In 2024, Samsung Electronics received 45 awards at the International Design Excellence Awards (IDEA), including two Gold, one Silver, and two Bronze awards. Their technologies have also received multiple CES Innovation Award honors across various product categories. Samsung has been recognized by the U.S. Environmental Protection Agency (EPA) for its sustainability efforts and has received numerous iF Design awards. In terms of brand value, Samsung is recognized as a top global brand, valued at USD 100.8 billion in 2024. The company has also been included in the "DJSI World Index" for 16 consecutive years and the FTSE4Good index for 14 consecutive years, demonstrating its commitment to sustainability and corporate responsibility.
Samsung holds leading market positions in several key technology sectors. It has consistently retained its leadership in the global smartphone market, shipping 58.0 million smartphones in Q2 2025, achieving a 19.7% global market share. Since 2006, Samsung has been the top-selling global manufacturer of televisions, maintaining the No. 1 position for ten consecutive years. Samsung is also the world's largest manufacturer of memory chips and semiconductors and has been the leader in the global soundbar market for ten consecutive years.
Corporate Culture and Leadership
Samsung's corporate culture and leadership have been shaped by a strong emphasis on innovation, excellence, and a commitment to contributing to global society. This has been driven by a succession of notable leaders who have instilled specific values and philosophies within the company.
Samsung's core business philosophy is to dedicate its talent and technology to creating superior products and services that contribute to a better global society. The company's mission statement is "to devote its talent and technology to creating superior products and services, thereby contributing to a better global society," highlighting its continuous pursuit of innovation and excellence, with a strong emphasis on human resources and technology as its most valuable assets. Samsung's vision statement is "to inspire the world with our innovative technologies, products, and design that enrich people's lives and contribute to social prosperity by creating a new future."
Samsung believes that strong values are crucial for good business. The five core values that define Samsung's spirit are: People, dedicated to providing employees with opportunities to reach their full potential; Excellence, driven by an unyielding passion for developing the best products and services; Change, constantly anticipating market needs and demands; Integrity, operating ethically with fairness, respect for stakeholders, and complete transparency; and Co-prosperity, committed to being a socially and environmentally responsible corporate citizen.
Samsung's organizational philosophy is innovation-centered, emphasizing employees' knowledge, skills, and abilities for innovating technology products. The company fosters a culture that thrives on speed and agility, encouraging employees to experiment, take risks, and bring fresh ideas without fear of failure. Samsung also makes substantial investments in research and development (R&D) to ensure continuous product evolution and pioneering solutions.
Samsung's trajectory has been significantly shaped by its key leaders. Lee Byung-chul, the founder (1938-1987), was a visionary and autocratic leader who instilled a culture of excellence and set exceptionally high standards for quality and efficiency. He diversified Samsung into various industries, including food processing, textiles, insurance, and eventually electronics, which became the cornerstone of the group. Lee Kun-hee (Chairman, 1987-2008; 2010-2020), his son, is widely credited with transforming Samsung from a producer of cheap, low-quality products into a world-leading innovator and industrial powerhouse. His famous declaration in 1993, "Let's change everything except our wives and kids," marked the beginning of the "New Management" philosophy, which prioritized quality, innovation, and global expansion. Lee Jae-yong (Executive Chairman, de facto leader since 2014, officially since 2022), son of Lee Kun-hee, became the de facto leader of Samsung Group in 2014 and officially assumed the role of Executive Chairman of Samsung Electronics in October 2022. His leadership style is described as strategic and reserved, focusing on sustainable growth and technological advancement. He has been instrumental in advancing Samsung's interests in semiconductors, AI, 5G, and foldable smartphones, emphasizing agility, sustainability, and ethical governance.
Current Status
Samsung maintains a formidable market position across various technology sectors, including smartphones, televisions, and semiconductors. As of October 2024, Samsung held the second-largest market share worldwide in smartphones at 22.82%, closely following Apple. In Q2 2024, Samsung shipped 58 million smartphone units, holding 19.7% of the market and showing a 7.9% year-over-year growth. While Samsung maintains a strong global position, it faces intense competition from Chinese brands in the mid-range and budget segments, and from Apple in the premium segment.
In the television market, Samsung has maintained its position as the global leader for 19 consecutive years, securing a 28.3% market share in 2024, driven by its focus on premium and ultra-large screen innovation, including Neo QLED and OLED TVs. In 2024, Samsung reclaimed the top position in the global semiconductor industry with a market share of 10.6% and revenue of $66.5 billion, a significant rebound driven by increased memory chip prices.
Recent developments for Samsung include a strong emphasis on Artificial Intelligence (AI) across its product ecosystem. At the January 2025 Galaxy Unpacked event, Samsung showcased its latest AI offerings in One UI 7, focusing on seamless user interactions. Samsung's vision is to deliver a true AI companion across its Galaxy ecosystem, extending AI-driven experiences to the Galaxy S25 series, the new A lineup, and health and home experiences. The company also unveiled Vision AI at CES 2025, an AI-powered screen technology that analyzes user preferences. Samsung continues to innovate in the foldable smartphone market, launching the Galaxy Z Fold7, Galaxy Z Flip7, and Galaxy Z Flip7 FE in July 2025, which are the first to come with One UI 8, built on Android 16, with enhanced AI features like Gemini Live. New smartwatches, the Galaxy Watch8 and Galaxy Watch8 Classic, were also announced in July 2025. Samsung is also accelerating the construction of its chip manufacturing plant in Taylor, Texas, expected to be operational by the end of October 2025, to manufacture advanced 3nm and 2nm chips.
Samsung's future outlook signals a clear shift beyond being solely a consumer hardware company, with a strong emphasis on integrating AI into systems, UI, and software. The company aims to reduce hardware dependency and build more software and services capabilities. AI-powered features, such as camera enhancements and productivity tools, will be crucial for retaining premium users. While analysts project a significant decline in Samsung's operating profit for 2025 due to factors like weaker Galaxy S25 sales and semiconductor struggles, foldable phones are expected to be a key revenue driver. The increasing role of AI, continued growth of private 5G networks, and the emergence of AI-powered rApps are expected to define 2025 in the network sector. Samsung is also making strategic shifts in its display sector and investing more in smart home areas, providing intuitive solutions across IoT products with the infusion of AI.
Summary
Samsung's journey from a small trading company in 1938 to a global technology titan is a compelling narrative of relentless innovation, strategic diversification, and an unwavering commitment to quality. Under the visionary leadership of its founders and subsequent chairmen, Samsung has consistently adapted to market demands, transforming from a modest exporter of dried goods into a powerhouse in electronics, semiconductors, and mobile communications. Its "new management" philosophy, emphasizing quality over quantity, propelled it to the forefront of global competition.
Today, Samsung stands as a dominant force in the global smartphone, television, and semiconductor markets, continually pushing the boundaries of technological advancement with groundbreaking innovations like foldable phones and extensive AI integration. Despite facing intense competition and economic fluctuations, Samsung's future outlook remains focused on software innovation, advanced technologies, and expanding its smart ecosystem, ensuring its continued relevance and leadership in the ever-evolving technological landscape.