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Faster, higher, stronger: the rise and rise of SAMSUNG
Where you find a company's name can be telling. Samsung was once ubiquitous on rather battered airport trolleys. Now it is found on Chelsea football shirts and was plastered all over the Olympics.
The English translation of Samsung – three stars – once inadvertently summed up the Korean company's microwaves and televisions, which were viewed as a cheap alternative to Sony. These days, Samsung is the world's biggest technology company by sales, selling more flatscreen TVs than anyone else and trouncing Apple in smartphones. And it is not just a question of quantity; increasingly gadget fiends are tossing away their iPhone 4S to drool over the new Samsung Galaxy S3.
The rapid rise of South Korea's largest company has placed this secretive behemoth at a crossroads. When its phones were promoted in the Olympic opening ceremony there was bound to be growing scrutiny of the way it organises itself, and where it goes next.
Samsung is famed in business circles as a "fast follower" – letting others innovate before flooding the market with excellently-made, rather imitative products. Now it is the market leader, there is no one left to follow. And fast following can cause trouble: Samsung is locked in a vicious patents dispute with Apple in courtrooms around the world.
Read more: http://www.smh.com.au/technology/technology-news/faster-higher-stronger-the-rise-and-rise-of-samsung-20120813-244df.html#ixzz2E9uZr7wVSamsung is South Korea's biggest chaebol, a traditional, family-run conglomerate with a dizzying array of almost 100 subsidiaries. Samsung Electronics is its flagship but Samsung also makes ships, weapons, sells insurance and even runs Everland, a South Korean amusement park.
The company's rise has mirrored that of South Korea, which was poorer than Ghana 50 years ago. Samsung began making noodles and selling dried seafood in 1938 before founder, Lee Byung-chull, moved into sugar, textiles and, in 1969,...