Samsung Electronics formerly known as Samsung Electric Industries founded in 1969 is the chief subsidiary of the Samsung Group and is the largest producer of electronics in Asia and one of the leading in the whole world. The company is divided into three main divisions: Consumer Electronics, Device Solutions and Information & Mobile Communications. The Consumer Electronics division produces television, computer monitor, printers, refrigerators, air-conditioners, washing machines and medical devices. The Device Solutions division focuses on the manufacture of memory, system integrated circuit, chips and diode. The Information Technology & Mobile Communications division manufactures handheld devices, communication systems, digital cameras and computers systems.
Headquartered in Suwon, South Korea, Samsung employs more than 300,000 people worldwide and has assembly plants and sales centers in 80 countries. For many years, Samsung was the major manufacturer of electronic components such as semiconductors, lithium batteries, chips and memory devices for Apple, HTC, Sony and Nokia. In 2000, Samsung was the market leader in code division multiple access (CDMA) Handset, DRAM, SRAM and the computer monitor markets. Samsung is currently the second largest information technology company in the world and the largest manufacturer of mobile phones and smart phone devices.
Samsung Electronics together with other subsidiaries in the Samsung Group engage in the manufacture and supply of consumer electronics, device solutions and Information technology & mobile communications devices all over the world. Among its large plethora of products include digital TVs, printers and monitors, Smartphones, mobile phones, tablets, wearables and other mobile communication devices and accessories. Samsung also produce computers, memory, home entertainment and audio equipment such as sound towers, DVD players, Blu-Ray, solid state drives (SSD) and much more. Since 2006, Samsung has been the largest manufacturer of television in the world and held 20% of the global LCD market in 2008. Samsung is also the largest manufacturer of LCD panels in the world and holds the largest share for NAND flash memory global market. Samsung is currently the largest manufacturer of television in the world and also the largest manufacturer of semiconductor chips, a position it took over from Intel in July 2017. Samsung is also involved in venture capital investments of technology related business.
In 2016, Samsung sold more than 300 million Smartphones worldwide getting about 20% of the global Smartphone market with Apple being its closest competitor. Huawei, Vivo and OPPO are also competing with Samsung in the global Smartphone market. In early 2017, sales of Samsung tablets accounted for about 16.5% of tablets shipment worldwide making it the second largest tablet vendor after Apple’s iPad. Samsung competes with Apple, Sony, LG, HTC, Huawei, Motorola, Microsoft, Xiami, OPPO, Vivo, Lenovo, Asus, Google, Nokia, NEC Corporation and Matsushita Electric Industrial Co. Ltd.
Oh Hyeon Gwon is the Chairman of the Board and Co-Chief Executive officer of Samsung Electronics. He took over the position in 2015. Gwon also currently serves as the Chairman, Samsung Institute of Technology and the Vice Chairman and CEO of Samsung Display. He holds on PhD. in Electrical Engineering from Stanford University.
Boo-Keun Yoon is the Vice Chairman and Chief Executive Officer of Samsung, a position he took up in March 2016. Yoon is also the President and Head of Consumer Electronics and holds a degree in Electronic Engineering from Hanyang University.
Jong-Kyun Shin was formerly the head of IT and Mobile communications; he took office as a Vice Chairman & CEO of Samsung in March 2016 and is also currently the President & Head, IT & Mobile Communications. Shin holds a degree in Electronic Engineering from Kwangwoon University.
Jae-Yong Lee is a Vice Chairman in Samsung and also the current Chairman, Samsung Life Public Welfare Foundation and Chairman, Samsung Foundation of Culture. He did his Doctorate at Harvard Business School, USA.
In the third quarter of 2016, Samsung’s operating profit took a $2billion plus hit due to the recall and discontinuation of the Galaxy note 7 Smartphone worldwide. As of May 2017, Samsungs market capitalization was placed at $254.3Billion with global revenue of about $174Billion and global net profit of about $19.6Billion. Samsung has set an ambitious target of meeting a $400 billion milestone in annual revenue by 2020.