In January 2024, Samsung was in headlines, when it launched its premium S24 model at its biannual event, Galaxy Unpacked. Intrigued by questions like how this great brand was built? Who was the visionary behind it? I thought of reading up on the Samsung brand story.
Did you know that this premium electronic brand, once sold groceries, fish and noodles? Yes, that was the beginning of the current conglomerate.
Setup by Lee Byung-Chul in 1938, the name Samsung is derived from Korean Hancha which means ‘Three Stars’. The founder explained that the name refers to something big, powerful and numerous that remains everlasting and eternal.
From textiles to banks to insurance, fertilizers, cement and others, Samsung started acquiring diverse businesses. For me Samsung was synonymous with electronic gadgets but I was surprised to know that Samsung entered this industry only in 1969, almost three decades after its start.
After the death of its founder, all the units were separated and that’s when Samsung started to focus on the electronics division.
The first Samsung smartphone was released in June 2009 and within 3 years of its introduction, Samsung Electronics became the largest producer of smartphones in the world.
Today The Samsung Group contributes more than 15% of South Korea’s GDP and Samsung Electronics Co. Ltd. is one of the most valued brands worldwide.
Every big brand has a unique story, that inspires commoners like us to follow our dreams.
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