Samsung is a South Korean word meaning “three stars.” The company was founded in 1938 by Lee Byung-chul, and it began producing radios. In the early days, Samsung relied on government contracts to stay afloat. However, the company’s fortunes changed in the late 1990s when it began producing televisions and other electronics. Today, Samsung is one of the world’s leading manufacturers of electronic goods. ..
Samsung’s Origins
The Samsung we know today is entirely different from the original company. It was started all the way back in 1938 by Lee Byung-chul in Korea. It was a small trading company and grocery store with only around 40 employees.
It wasn’t until the 1960s that Samsung entered the electronics industry. Several electronics divisions were formed, including Samsung Electronics, which is what most people nowadays are referring to when they talk about Samsung.
Samsung became the world’s largest manufacturer of memory chips by 1992. Ten years later, it was the world’s largest producer of liquid-crystal displays. In 2012, Samsung became the world’s largest mobile phone maker, passing Nokia.
The Samsung Electronics division accounts for around 70% of Samsung’s total revenue. As of 2019, it was the second largest technology company in the world by revenue. Samsung smartphones account for 23% of global smartphone sales as of April 2022. That puts them in the top spot.
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The Meaning of Samsung’s Name
The Samsung name was chosen by founder Lee Byung-chul; it means “three stars.” According to Samsung’s official record, his vision was for the company to be “powerful and everlasting like the stars in the sky.”
The three stars were present in the original and subsequent logos until the company introduced the logo we know today in 1993.
As a company that is over 80 years old and leads the technology industry in many areas, it would seem Samsung has accomplished its founder’s goal of being powerful and everlasting. You can find Samsung on many of our buying guides, including Android phones, 4K TVs, smartwatches, and Chromebooks!
