As Apple’s biggest threat in the smartphone market, the Samsung net worth continues to grow. Yet, their portfolio of products and services span multiple industries.
Samsung has dabbled in the mobile phone market since the late 80s, with the release of the SH-100. Their first popular product didn’t come until 2004, with the release of the D900.
However, Samsung struggled to reach the level of popularity enjoyed by the likes of Nokia and Motorola.
Yet, their foray into the smartphone market has been a huge success. They now rival Apple for the top spot in phone sales, with a market share of 17.8% compared to the 17.9% share that the iPhone holds. As a result, the Samsung net worth has climbed in recent years.
Most people now known Samsung as a technology manufacturer. However, Lee Byung-chul’s tech empire has had successes (and still does) in a number of industries.
3 industries that Samsung cracked before smartphones
Brung-chul founded Samsung in 1938. Unsurprisingly, the company didn’t start out in the tech industry.
It first began as a small export company in Taegu, Korea, sourcing local produce and exporting it to China. Their most popular products included dried fish, noodles and fruit.
Samsung proved to be a big success. Within a decade the company had generated enough profit to set up mills and manufacturing plants, which allowed them to start producing their own goods. It was another 22 years before Samsung finally moved into the electronics market, with the release of their first television set in 1970.
Soon after the company was formed, Samsung founded the Samsung Construction & Trading Corporation. Samsung’s construction division now has offices around the world.
Samsung C&T have worked on some of the world’s most iconic buildings. They are behind the Petronas Towers in Malaysia. They also worked on the Burj Khalifa, which stands at a height of 829.8 metres, making it the tallest structure in the world.
Samsung looked to expand their portfolio in 1994 by trying their luck in the automotive industry. Samsung Motors was born and the Samsung SQ5 took to the roads in 1998.
Car giants Renault have since taken over the company. They paid $560 million for a controlling stake in 2000. However, Samsung are re-entering the vehicle industry, as they race Apple, Google and Uber to create the first self-driving car.
What is the Samsung net worth?
Samsung has emerged as one of the world’s most valuable brands over the last decade and continue to unveil innovative tech products, such as the Galaxy smartphone range and Samsung Gear smartwatches, each year.
With more than $175 billion in revenue and £206.5 billion in assets, the Samsung market value currently stands at $216 billion.