Samsung's complex history and milestones, the rise of their computer division, the Lithium-Ion battery recall, the founder's complicated legacy, the split within the Lee family, and the legal troubles they faced.
Samsung's success in the consumer electronics market established it as one of the Four Little Dragons, alongside Taiwan, Singapore, and Hong Kong.
The complex web of relationships and power struggles within the Lee family resulted in divisions within Samsung Group and highlighted the connection between politics and business in South Korea.
Despite setbacks and controversies, Samsung's commitment to technological advancements and global expansion propelled them forward, positioning them as a key player in the world of consumer electronics.
Deep dives
Samsung's rapid expansion in the 1970s and 1980s
Samsung experienced significant growth in the 1970s and 1980s, diversifying its products and expanding operations globally. They ventured into various industries, including televisions, air conditioners, microwaves, and mobile phones. Samsung became a global leader in memory chips and LCD displays, licensing its technology to other companies. Their success in the consumer electronics market established them as one of the Four Little Dragons, alongside Taiwan, Singapore, and Hong Kong.
Corporate and political challenges within the Lee family
After the founder's death, Samsung Group faced internal conflicts as control passed to the founder's third son, Lee Kun-hee. The Lee family's complex web of relationships and power struggles resulted in divisions within the company, with different siblings taking control of various Samsung divisions or starting their own businesses. Legal battles and accusations of bribery further complicated the company's history, highlighting the intricate connection between politics and business in South Korea.
Samsung's dominance in the consumer electronics market
Throughout the 1990s, Samsung Electronics solidified its position as a global leader in consumer electronics. The company introduced innovative products such as DVD recorders, digital cameras, and personal computers. Samsung's expertise in LCD displays and memory chips made it a prominent player in the industry. Despite occasional setbacks and controversies, Samsung's commitment to technological advancements and global expansion propelled them forward, positioning them as a key player in the world of consumer electronics.
Samsung's Financial Crisis in the Late 1990s
During the financial crisis in South Korea in 1997, Samsung was significantly impacted, leading to layoffs, sold business units, and reduced number of affiliated companies.
Samsung's Growth and Controversies
Samsung's journey includes the production of larger LCD screens, mass production of digital televisions, launching smartphones, becoming the largest producer of LCD panels globally, and being involved in numerous court battles with Apple. The company faced further challenges with the Galaxy Note 7 battery malfunction and became embroiled in the Choi Sun-sil scandal, resulting in the arrest of Jay Lee on bribery charges.
Picking up where we left off, we look at some of the more recent stories about Samsung, including the tricky relationships between the heirs to the Samsung throne.
