Samsung is a South Korean company, and it is popular across the globe for its innovative tech produces. Samsung is also the largest company in South Korea with its revenue covering 17 per cent in the South Korean economy. From making mobile phones to TV, Samsung has created its excellent reputation. Samsung is a major Apple iPhone X parts supplier also. Still, there are various unknown facts about Samsung, and I bet you are not aware of these facts. So in this blog post, I am going to tell you about 4 amazing and unknown facts of this legend company.
- Samsung was a Grocery Store When it Started
Not many people know that Samsung was a trading company and it was specialized noodles when it was established in the 1940s. Later it became a popular chain and managed to earn good profit. Google and facebook aimed to be a tech giant, but Samsung never ever saw itself as a tech company when it launched. In the late 1960s when the concept of TV started gaining popularity worldwide, then Samsung found it the perfect time to enter the market of technology.
2. The Family that Owns Samsung is the Richest in South Korea
Yes, you read it right. You can say that Samsung is the Microsoft of South Korea. The Samsung Company is owned by Cho Hand – Jai family and they are the wealthiest families of the region. The net worth of the company is around 16.8 billion dollars which are almost twice as South Koreas second richest family; their worth is about 6.7 billion. No one in South Korea can defeat this family in terms of wealth in the near future.
3. The CEO of Samsung Burned Product Worth 50 Million Dollars in One Day
Now, this facts sounds really strange I know. You must be thinking that why a billion dollar company will burn and destroy its own product. In the early 1990s, Samsung CEO observed that low-quality parts are being used by the company employees to build their product and he did not want to harm the brand of Samsung by providing cheap quality products to their users, and that is why Samsung’s CEO decided to burn all the products. He burnt things like TVs, Phones and Fax machines. It is estimated that Samsung burnt its product worth 50 million that day. From that time onwards quality is the top priority of Samsung.
4. Samsung is the Top Supplier of Apple for iPhone Components
I know it sounds very strange, but it is true that most of the components used in the building of an iPhone are supplied by Samsung. These both tech giants may be the biggest rival of each other, but it is also true that Apple can not manufacture even a single iPhone if Samsung will stop supplying its components to Apple.
Samsung provides iPhone parts wholesaleto Apple. These were some amazing facts about Samsung. The story of Samsung from a trading company to a tech giant is really inspiring for many budding companies.