Top 10 Companies in the World 2017

Posted in Top Brand Lists, Total Reads: 3027

9. Samsung

Samsung has the distinction of being the largest “chaebol”, that is conglomerate, in South Korea.

Image: Wikimedia

It has such a profound impact on the economic landscape of the country that it has been titled the “Miracle on the Han River”. Samsung was started on May 1st, 1938 by Leebyung Chull, originally as a grocery trading store specializing in noodles.

The story of how it reached its present status is quite impressive. The grocery trading business started exporting its goods to China, and slowly expanded into other areas such as the Textile industry after the Korean War. In 1978, Samsung successfully completed the vertical integration of the textile industry, when it took control of all activities involved in its supply chain.

Subsequent years witnessed the diversification of Samsung into numerous fields. It entered the Heavy Industries, Ship Building and Aerospace sectors in the year 1978. Later, Samsung enter the Data Systems and consumer electronics market too. At present, Samsung is a global conglomerate of over 70 subsidiaries ranging from construction (the Burj Khalifa was built by Samsung) to fashion, with Samsung Electronics being the major contributor to revenues. This subsidiary is in itself subdivided into 3 distinct parts – Mobile Devices, Consumer Electronics and Electronic Components. Recently, Samsung has even ventured into the health and pharmaceutical segment.

The most popular among Samsung’s products are smartphones. Smartphones alone accounted for 76% of profits in 2015. Samsung holds a competitive edge in this business owing to vertical integration that has been implemented here. Samsung held 22% market share in the smartphone segment in 2015, with Apple coming in second with a little over 16% market share. Samsung employed 489,000 employees as on 2014, which is more than Google, Apple and Microsoft combined. It accounts for a fifth of South Korea’s total exports, and has three current CEOs.

Sales ($Bn): 174

Profits ($Bn): 19.3

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