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Samsung's Rising Stars

By Paul Wise

Republish: EasyPublish™
Published: 27Sep2009
Word count: 408
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Samsung is one of the world's largest and well known consumer electronics company. It is actually a conglomerate made up of different companies in many industries, from construction to insurance, from retail outlets to sports teams. The electronic company is a part of this wider group of companies, and is the part devoted to manufacturing and marketing cell and smartphones.

The company was originally a small trading company dealing in import of various dry goods. The communist invasion forced a relocation and, essentially, starting the business all over again, but ironically it was also the catalyst which leads to the company?s first boom in business, paving the way for its eventual rise as a global conglomerate. After the Korean War, they acquired a sugar refinery which was the only one in the country at the time and further diversified its holdings and assets, with a reach in a wide range of industries. By the early 1970s, the company was even launching radio and television stations.

The company, however, was favored by successive military dictatorships in South Korea and enjoyed government protection for most of its history. Special privileges were set aside for it to prosper, as part of the official policy of fostering Korean industry. The economic strategy chosen was to groom a few select companies into major economic giants, or chaebols in Korean. To that end, the chaebols, of which the company was one had special conditions created to ensure their success, such as heavily subsidized loans and the requirement that foreign companies hand over technological secrets in order to do any business at all in South Korea. This was justified by the belief that Korean businesses needed a ?leg up? in order to be at a stage at which they can compete with much more established global powers. This is how the company was able to break into the memory chip industry. By the late 1980s, however, the organization was sufficiently invested in research and development to produce technology of their own from scratch, and this pushed them into the forefront of the global electronics industry. By the early 1990s, they were designing, manufacturing, and shipping a broad range of professional and consumer electronics worldwide, with facilities worldwide.

It was during the 1990s that they became a truly global corporation, and it was during this decade that its reputation as cellular telephone company was started. The company continues to make products and introduce advancements everyday.

Article written by Paul Wise. Paul has done extensive research on Samsung. If you need used cell phones or refurbished cell phones , visit SaveMoneyCellular.com.

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