Nobody needs to tell you that Samsung is undergoing a tough time as a result of the humongous loss from the Note 7 incident.
We could spend all day blabbing how the incident (almost) tarnished the company’s reputation and how much cash the company lost but we’re not just going to do that.
Instead of smelling a bad omen, let us check out 5 fun, and interesting facts about Samsung; I bet you never knew!
Its rise to fame and success didn’t come by chance or accident.
This very company was established in the year 1938. It initially had no claims as it was producing and selling noodles under the name “Samsung Sanghoe”.
After so many years, Samsung became one of the biggest conglomerates in South Korea, having other product subsidiaries. Samsung Electronics took the lead as the most popular subsidiary.
, Samsung has been in business for close to . Even before my country Nigeria got its Independence (lol).
So, there is nothing wrong if we likened Samsung to a business Sage right?
Now let us count down.
5. The name “Samsung” was destined for success
This is 2016 and no one creates a brand name by accident. I repeat again; No one does! No matter the nature of the business.
Although some names are given with either a purpose, plan or familiarity, some are given by inspiration.
Nike is a good example when we talk about inspiration.
The American company Nike is a multinational corporation that is engaged in the design, development, manufacturing and worldwide marketing and sales of footwear. Its name was inspired by the Greek goddess Nike (goddess of Victory). I believe that from the onset, that name was meant to break through the market.
The name “Samsung” can be divided into two syllables and is comprised of a combination of meanings: Sam (three) and Sung (stars).
From a western point of view, stars are mostly associated with success.
But in Korea, things are a bit different; stars are references to three celestial Chinese gods (this concept had been imported to Korea) who represent glory, luck and longevity.
Amusing right? Seems Chinese gods and greek gods have inspired a lot of great firms.
Now am thinking, where does the name Techno come from? Drop a comment if you know, cos I have no idea where that name originated from (although i was thinking tech-no; tech-no-logy)
4. The marketing budget is stupendous
The fact that Samsung is popular is not bound by one factor but many.
Samsung is almost 80 years, they’re like the big wolves in the park and off course were present at the time smartphones were given birth to.
The company succeeded in gaining a lot of faithful and loyal clients and are leading a lot of a bunch of other manufacturers in the smartphone market.
I once asked this question; “ “
With the responses I got from friends on Facebook and Google Plus, hmm. Samsung still got loyal fans.
Samsung puts a large amount of money into conducting research and development (in 2015, they spend more than 14 billion dollars) and roughly over 3.3 billion in 2016.
Samsung never plays with advertisement, that’s why you always see their posters and TV
3. The CEO says it how it is
At the end of last century, Samsung’s reputation was likened to that of the Chinese smartphones of today: More quantity less quality.
The chairman of Samsung Group, Lee Kun-hee came out with a powerful and iconic phrase
“Change everything except your wife and children”.
Samsung products are well known for constant improvements (unless you take into account the Note 7 accident). That’s the reason why all of their smartphones are running on customised versions of Android.
In 1995, Kun-hee was irritated and angry by the lack of quality in mobile phones so the decided to set fire on billions of devices right before his employees.
Funny enough, their phones go on fire all by themselves today.
2. Samsung helped construct of the largest monument in the world
Have you heard of the Burj Khalifa tower? It’s 828 meters tall and the largest structure ever made by man.
You shouldn’t be surprised if I told you that the Burj Khalifa tower is found in Dubai!
But here is a shocker…
Do you know who help made the construction of this tower a reality?
Although it wasn’t the doing of Samsung Electronics but another subsidiary (Samsung C&T Corporation), a brand that specialises in fashion, commerce and construction.
It is difficult to find any relation between both sectors but for a second, imagine how much accomplishment the brand Samsungs has made.
Building such structure was indeed a huge project for the Korean giant. Not because they did it all by themselves but because they had to work with project partners in accomplishing such result.
1. Samsung manufactures components for Apple
I guess a lot of you never knew this. But it’s true.
Samsung is not a selfish company who wants to conquer all manufacturers and be the DARK LORD or EVIL GENIUS.
Instead, they use their innovative skills to help some other companies, in particular, its biggest rival: Apple.
Despite two giants being rivals, it doesn’t stop them from working together.
According to Bloomberg, Samsung produces SSDs for Macs and a team also takes care of manufacturing Retina screens for iPads.
Who knows if Samsung produces other components for its competitors.
Here is a bottom line; Samsung Electronics generates just about 30% from Samsung Mobile, so there’s nothing wrong in diversifying to make more money.
This is just 5 on my list, do you have any other fun and interesting fact to add to this list?