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Business Project (Samsung)
Transcript of Business Project (Samsung)
By: Carmen Belasco
Products & Services
The Samsung corporation has many products/services that are sold all over the world. The company sells phones, TV’s, and tablets as well. They sell computers, Blu-ray and Smart Players, home theater and audio. They offer digital cameras and camcorders, memory and storage, LED lighting, and offer a service called Milk Music, which is a music radio like Pandora Radio. Along with these products Samsung sells many accessories such as:
Cell Phone Accessories
Digital Camera Accessories
Digital Camcorder Accessories
Washer & Dryer Accessories
Security System Accessories
Baby Monitor Accessories
Let’s take a look at some of the strengths and weaknesses of competing companies Panasonic, Sony, and LG. Panasonic sells a broad range of technology to businesses, large and small. But Panasonic electronics are not as advanced as Samsung’s. Sony sells mostly all of the same products that Samsung does, but Sony sells more products for entertainment. Samsung sells a very wide variety of products including electronics, but Samsung also has the edge of selling appliances as well as very high quality electronics. LG, is almost the exact same company as Samsung. LG sells electronics, entertainment products, and also appliances. LG is mostly known for their appliances. Samsung is further advanced in the age of electronics, as well as appliances. From selling dried, packed fish to being one of the top three appliance and electronics companies worldwide.
Samsung also does offer stock. The stock went public January 3, 2003. The ticker symbol for Samsung is KRX. Samsung exports all around the world one of the main areas being the Americas. In 2014 , Samsung made a profit of 7.4 billion dollars, selling 56.3 million phones. Samsung’s net sales are 203 billion dollars with a net income of 22.1 billion dollars.
The Base Country
Samsung is widely known for their electronics even though the company had first started with the focus of selling and exporting dried fish, vegetables, and fruit.. The corporation had first started in Taegu, Korea on March 1, 1938 by Lee Byung-chul. In 1938, Lee Byung-chull (1910–1987) of a large landowning family in the Uiryeong county came to the nearby Daegu city and founded, Samsung Sanghoe, a small trading company with forty employees located in Su-dong (now Ingyo-dong). The company sold groceries produced in and around the city and produced its own noodles. The company prospered and Lee moved its head office to Seoul in 1947. When the Korean war broke out he was forced to leave Seoul and he started a sugar refinery in Busan named Cheil Jedang.
In 2015, Samsung continues to be on the cusp of innovation. One of the more exciting products to be released this year by Samsung is the GearVR which is a virtual reality headset that houses the Samsung Galaxy 4 Note mobile phone for the screen. The virtual reality innovation is wildly popular with gamers, especially. Strapping on the headset brings the player into the environment and allows them to scan the landscape of the game with a 100 degree sightline (greater than human’s natural peripheral vision). The device has been released at a price point about $100 less than the average competitor and it is expected to be marketed heavily in all of the Samsung mobile stores this fall. The stores will have “experience stands” readily available for consumers to try the product. Although Samsung is one of the more recognizable electronics brands in the world it does have several competitors to note. Samsung has always separated itself by producing quality products with an eye on innovation.
The History of Samsung
By 1979 Samsung continued expansion with the mass production of microwaves. Samsung had begun to produce air conditioners by 1980. In 1982 they had changed their name from Korea Telecommunications Corp. to Samsung Semiconductor & Telecommunications Co. They had begun the production of PC’s in 1983. Samsung exported their first VCR’s to the U.S. by 1984. In 1989 Samsung produced their 20 millionth color TV. 1991, Samsung completes their first version of the mobile phone handset. In 1992 they had produced their 10 millionth industrial robot, and had developed a mobile phone system. In 1995 the Samsung Entertainment Group starts. And in 1998 Samsung starts mass production of the world’s first digital TV.
Money made in 2014
Samsung made a profit of 7.4 billion dollars, selling 56.3 million phones. Samsung’s net sales are 203 billion dollars with a net income of 22.1 billion dollars.
In 2015, Samsung continues to be on the cusp of innovation. One of the more exciting products to be released this year by Samsung is the GearVR which is a virtual reality headset that houses the Samsung Galaxy 4 Note mobile phone for the screen. The virtual reality innovation is wildly popular with gamers, especially.