History of Samsung in Timeline
Samsung Group, a renowned South Korean multinational conglomerate, is headquartered in Suwon, South Korea. Known for its vast network of affiliated businesses united under the Samsung brand, it holds the title of the largest South Korean chaebol. As of 2020, Samsung secured its position as the eighth most valuable brand globally.
1912: Samsung's Stake in Sharp Corporation
In 1912, Samsung acquired a 3% stake in Sharp Corporation, a Japanese company specializing in designing and manufacturing electronic products.
1938: Establishment of Mitsuboshi Trading Company
Lee Byung-chul established Mitsuboshi Trading Company, later known as Samsung Sanghoe, in Daegu, Korea, in 1938.
1938: Samsung's Humble Beginnings
Samsung was founded in 1938 by Lee Byung-chul as a trading company in Daegu, South Korea. The company started small with only forty employees and focused on trading dried fish, groceries, and noodles.
1947: Partnership and Separation
Cho Hong-jai, the founder of the Hyosung group, and Lee Byung-chul, the founder of Samsung, partnered to establish Samsung Mulsan Gongsa, a trading company. However, their partnership dissolved a few years later due to differing management styles, leading to the formation of Samsung Group and Hyosung Group as separate entities.
1947: Relocation and Expansion
Samsung's headquarters was moved to Seoul in 1947, marking the company's growth and expansion.
January 1952: Korea Anbo Fire and Marine Insurance Established
Korea Anbo Fire and Marine Insurance was founded in January 1952.
1954: Venturing into Textiles
In 1954, Samsung took a significant step by establishing Cheil Mojik, a woolen mill located in Daegu, which became the largest of its kind in South Korea.
March 1957: Dongbang Life Insurance Founded
Dongbang Life Insurance was established in March 1957.
July 1963: Dongbang Life Insurance Becomes Affiliate of Samsung Group
In July 1963, Dongbang Life Insurance became an affiliate of the Samsung Group.
1964: Entry into Electronics and Broadcasting
Samsung Group made its foray into the electronics industry in the late 1960s. They established various electronics-focused divisions, including Samsung Electronics Devices, Samsung Electro-Mechanics, Samsung Corning, and Samsung Semiconductor & Telecommunications. Additionally, they set up a facility in Suwon and launched their first product, a black-and-white television set.
January 1969: Samsung Engineering Founded, Focusing on Construction of Industrial Infrastructure
Samsung Engineering, established in January 1969, specialized in constructing oil refining plants, petrochemical plants, power plants, and other industrial infrastructure.
1973: Formation of Samsung Corning Precision Glass
In 1973, Samsung and Corning formed a joint venture called Samsung Corning Precision Glass to manufacture cathode ray tube glass for black and white televisions.
1973: Samsung Electro-Mechanics Established as Electronic Component Manufacturer
Founded in 1973, Samsung Electro-Mechanics focused on manufacturing key electronic components.
August 1974: Samsung Heavy Industries Established, Specializing in Shipbuilding and Engineering
Established in August 1974, Samsung Heavy Industries engaged in shipbuilding and engineering, producing various vessels, equipment, and structures.
1975: Samsung Fire Listed on Korea Exchange Stock Market
Samsung Fire was listed on the Korea Exchange stock market in 1975.
1978: Formation of Samsung Thomson-CSF Co., Ltd.
In 1978, Samsung Thomson-CSF Co., Ltd. was established as a joint venture between Samsung-Techwin and the France-based aerospace and defense company Thales. It is headquartered in Seoul.
March 1979: Hotel Shilla Opens, Expanding Samsung's Presence in Hospitality
Following the vision of Samsung Group's founder, Hotel Shilla (also known as "The Shilla") opened in March 1979, marking Samsung's expansion into the hospitality industry.
1979: Samsung's Stake in Seagate Technology
In 1979, Samsung acquired a 9.6% stake in Seagate Technology, an American company specializing in the computer storage industry.
1979: Investment in Taylor Energy
In 1979, Samsung Oil & Gas USA Corp., a subsidiary of Samsung, acquired a 20% stake in Taylor Energy, an American oil company drilling in the Gulf of Mexico.
1980: Closure of Tongyang Broadcasting Company
Tongyang Broadcasting Company, a private radio and television company owned by Samsung's founder, Byung-chul, ceased operations in 1980 following a government review of media outlet regulations.
1980: Expansion into Telecommunications
Samsung acquired Hanguk Jeonja Tongsin, based in Gumi, in 1980, marking their entry into the telecommunications hardware sector. Their initial products were switchboards.
1982: International Expansion: Television Assembly Plant in Portugal
Samsung Electronics expanded its global presence by establishing a television assembly plant in Portugal in 1982.
1984: Expansion into North America
Samsung Electronics further expanded its global reach by opening a plant in New York in 1984.
March 1985: Samsung SDS Founded, Focusing on IT System Deployment
Samsung SDS, established in March 1985, specialized in deploying IT systems, including ERP, IT infrastructure, and IT consulting.
1985: Expanding Presence in Asia
Samsung Electronics established a plant in Tokyo in 1985 as part of its strategic expansion in Asia.
1987: Samsung Advanced Institute of Technology (SAIT) Established, Focusing on Research and Development
In 1987, Samsung established the Samsung Advanced Institute of Technology (SAIT) to conduct research and development activities globally.
1987: Samsung Electronics Establishes UK Facility
In 1987, Samsung Electronics expanded its European presence by opening a facility in England.
1987: Division into Independent Entities
Following the passing of founder Lee Byung-chul, Samsung Group underwent a division into five separate business groups: Samsung Group, Shinsegae Group, CJ Group, Hansol Group, and the JoongAng Group.
1987: Restructuring After Founder's Passing
Following the death of its founder, Lee Byung-chul, in 1987, Samsung Group underwent a significant restructuring. It was divided into five separate business groups: Samsung Group, Shinsegae Group, CJ Group, Hansol Group, and JoongAng Group.
1987: Legal Dispute over Computer Chip Sales
The United States International Trade Commission ruled in 1987 that Samsung Group had engaged in unlawful sales of computer chips within the United States. The commission determined that Samsung had sold these chips without obtaining the necessary licenses from the chip's inventor, Texas Instruments Inc.
1989: Investment in Sungjin Geotec
In 1989, Samsung Engineering acquired a 10% stake in Sungjin Geotec, a South Korean offshore oil drilling company that is a subsidiary of POSCO.
1989: Formation of Samsung BP Chemicals
In 1989, Samsung and the UK-based BP formed Samsung BP Chemicals, a joint venture to produce high-value-added chemical products used in rechargeable batteries and liquid crystal displays.
1990: Investment in Rambus Incorporated
In 1990, Samsung acquired a 4.19% stake in American technology company Rambus Incorporated, which specializes in producing electronic components and chip interface technologies.
1990: MEMC Joint Venture with Samsung Electronics
In 1990, MEMC entered into a joint venture agreement with Samsung Electronics to construct a silicon plant in Korea, leading to the formation of MEMC Korea Company.
1990: Globalization and Focus on Electronics
Beginning in 1990, Samsung embarked on a path of increased globalization, particularly in its electronics division. Mobile phones and semiconductors emerged as major contributors to the company's revenue.
1991: Hansol Group's Separation and Independence
Hansol Group severed its financial and ownership ties with Samsung Group in 1991, establishing itself as an independent entity.
1991: Samsung Buys Stake in Pantech
In 1991, Samsung acquired a 10% stake in Pantech, a South Korean company that manufactures mobile phones and tablets.
1992: Global Leadership in Memory Chips
Samsung attained the position of the world's leading producer of memory chips in 1992, a testament to its technological prowess in the semiconductor industry.
December 1993: Korea Anbo Fire and Marine Insurance Renamed Samsung Fire & Marine Insurance
In December 1993, Korea Anbo Fire and Marine Insurance was renamed Samsung Fire & Marine Insurance.
1993: CJ Group Separates from Samsung Amidst Family Feud
In 1993, CJ CheilJedang, formerly part of Samsung Group, separated, marking a heated rivalry between Lee Kun-hee and his brother, Lee Jay-hyun, the Chairman of CJ.
1993: Strategic Divestments and Focus on Core Industries
Under the leadership of Lee Kun-hee, Samsung Group underwent a significant transformation in 1993. The company divested itself of ten subsidiaries, streamlined its operations, and strategically merged various business units. The objective was to sharpen the company's focus on three core industries: electronics, engineering, and chemicals.
November 1994: Samsung Medical Center Founded, Pioneering Advanced Healthcare Services
Samsung Medical Center was founded on November 9, 1994, with a focus on providing advanced medical services, research, and training.
1994: Investment in Renault Korea Motors
In 1994, Samsung acquired a 19.9% stake in Renault Korea Motors, a South Korean automotive company.
March 1995: Samsung (Rollei) Watches Banned in Germany
After acquiring Rollei in 1995, Samsung used the brand to release Swiss-made watches. However, the Cologne District court banned their advertising and sale in Germany in March 1995.
1995: Formation of Stemco
In 1995, Samsung Electro-Mechanics and Toray Industries formed a joint venture called Stemco.
1995: Samsung Electronics and Japan's Toray Industries Establish Steco
In 1995, a joint venture called Steco was formed between Samsung Electronics and Japan's Toray Industries.
1995: Samsung Invests in FUBU
In an unusual move for the electronics giant, Samsung's textile department invested in the American hip hop apparel company FUBU in 1995, responding to a funding request ad in The New York Times.
1995: Pioneering Liquid-Crystal Display Technology
Samsung achieved a technological milestone in 1995 by creating its first liquid-crystal display (LCD) screen, marking its entry into the rapidly growing flat-panel display market.
1995: Samsung's Failed Foray into the North American Computer Market
Samsung's attempt to enter the North American computer market in 1995 by acquiring a 40% stake in AST Research failed. The venture led to losses and mass resignations, forcing Samsung to close the California-based company.
1996: Opening of LCD Glass Substrate Facility
In 1996, Samsung Corning Precision Glass opened its first LCD glass substrate manufacturing facility in Gumi, South Korea.
1996: Reacquisition of Sungkyunkwan University Foundation
In 1996, Samsung Group reacquired the Sungkyunkwan University foundation, demonstrating its commitment to education and its historical ties.
1996: Samsung Electronics Establishes Austin Facility
Samsung Electronics inaugurated a facility in Austin, Texas, in 1996, strengthening its presence in the United States.
1997: Founding of S-1 Corporation
In 1997, S-1 Corporation was founded as South Korea's first specialized security business and has maintained a leading position in the industry.
1997: Samsung Weathers Asian Financial Crisis
In 1997, Samsung proved to be more resilient than other Korean companies during the Asian financial crisis.
July 1998: Samsung Fined for DRAM Price Fixing
Samsung engaged in a DRAM price-fixing cartel from July 1998 to June 2002, resulting in a fine in October 2011.
1998: Formation of GE Samsung Lighting
In 1998, Samsung and the GE Lighting subsidiary of General Electric formed a joint venture called GE Samsung Lighting.
1998: Establishment of Alpha Processor Inc.
In 1998, Samsung and U.S.-based Compaq established Alpha Processor Inc. (API) with a $500 million investment to enter the high-end microprocessor market and expand Samsung's non-memory chip business by manufacturing DEC Alpha CPUs.
1998: Expansion of Renault Korea Motors
In 1998, Renault Korea Motors, partially owned by Samsung, expanded its operations to include a range of cars and electric car models.
April 1999: Samsung Involved in DRAM Price Fixing in Canada
From April 1999 to June 2002, Samsung participated in a DRAM price-fixing scheme in Canada, which resurfaced in a 2014 investigation and class action lawsuit.
1999: Rollei Management Buys Out Company
After a tumultuous period under Samsung's ownership, Rollei's management bought out the company in 1999.
1999: Formation of Brooks Automation Asia Co., Ltd.
In 1999, Samsung and Brooks Automation formed a joint venture called Brooks Automation Asia Co., Ltd., specializing in vacuum wafer handling platforms and atmospheric loading systems for flat panel displays.
1999: Samtron Becomes Independent
In 1999, Samtron, a subsidiary of Samsung, became an independent company, continuing to manufacture computer monitors and plasma displays.
1999: Samsung Establishes Korea Aerospace Industries
Samsung founded Korea Aerospace Industries (KAI) in 1999, merging its aerospace division with Daewoo Heavy Industries and Hyundai Space and Aircraft Company.
2000: Formation of Global Steel Exchange
In 2000, Samsung formed a joint venture called Global Steel Exchange with U.S.-based Cargill, the Switzerland-based Duferco Group, and Luxembourg-based Tradearbed to manage online buying and selling of steel.
2000: Samsung Opens Warsaw Development Center
Samsung's development center in Warsaw, Poland was established in 2000, initially focusing on set-top-box technology.
2001: Samsung Thomson-CSF Co., Ltd. Rebranding
In 2001, Samsung Thomson-CSF Co., Ltd. was rebranded to Samsung Thales Co., Ltd., reflecting its continued operations as a joint venture between Samsung-Techwin and Thales, a France-based aerospace and defense company.
June 2002: Samsung Involved in DRAM Price Fixing in Canada
Samsung's participation in a DRAM price-fixing scheme in Canada, from April 1999 to June 2002, led to a $120 million settlement in 2014.
June 2002: Samsung Fined for DRAM Price Fixing
Samsung's involvement in a DRAM price-fixing cartel, lasting from July 1998 to June 2002, led to a fine in October 2011.
2003: Samtron Reintegrated into Samsung
In 2003, Samtron, which had been an independent company since 1999, was reintegrated into Samsung, and the Samtron brand redirected to Samsung.
April 2004: Formation of S-LCD Corporation
In April 2004, Samsung Electronics and Sony Corporation formed S-LCD Corporation as a joint venture, with Samsung holding 50% plus one share and Sony holding 50% minus one share.
October 2004: Formation of SD Flex Co., Ltd.
In October 2004, Samsung and DuPont formed SD Flex Co., Ltd. as a joint venture corporation.
2004: Samsung and Sony Form LCD Venture
In 2004, Samsung and Sony partnered to create a joint venture for LCD production. This partnership lasted until 2011 when Samsung bought Sony's stake.
2004: Formation of Toshiba Samsung Storage Technology Corporation
Samsung Electronics and Toshiba of Japan established Toshiba Samsung Storage Technology Corporation (TSST) in 2004, specializing in manufacturing optical disc drives.
July 2005: Samsung Life Insurance and China National Aviation Holding Form Joint Venture
Samsung Life Insurance and China National Aviation Holding established a 50:50 joint venture, Samsung Air China Life Insurance, in Beijing in July 2005.
2006: Formation of S-LCD Joint Venture
Samsung and Sony established S-LCD in 2006 as a joint venture to ensure a stable and mutually beneficial supply of LCD panels for both companies.
October 2007: Samsung Slush Fund Exposed
On October 29, 2007, Kim Yong-chul, a former Samsung legal department head, exposed a slush fund used by Lee Kun-hee for bribes and artwork purchases.
2007: Former Samsung Lawyer Alleges Corruption
Kim Yong Chul, a former Samsung lawyer, made allegations in 2007, claiming involvement in bribery and evidence fabrication for Chairman Lee Kun-hee, sparking controversy around the company's ethical conduct.
2007: Formation of POSS – SLPC s.r.o.
In 2007, Samsung C & T Corporation, Samsung C & T Deutschland, and POSCO formed POSS – SLPC s.r.o. as a joint venture.
March 2008: Samsung Starts Construction of First Mobile Phone Plant in Vietnam
In March 2008, Samsung began construction of its first mobile phone manufacturing plant in Vietnam, Samsung Electronics Vietnam (SEV), with an investment that quadrupled from its initial amount to $2.5 billion.
June 2008: Formation of Siltronic Samsung Wafer Pte. Ltd.
In June 2008, Samsung and the wholly-owned Wacker Chemie subsidiary Siltronic officially opened Siltronic Samsung Wafer Pte. Ltd. in Singapore.
June 2008: Formation of SB LiMotive
In June 2008, Samsung SDI and Robert Bosch GmbH (Bosch) formed SB LiMotive, a joint venture to develop and manufacture lithium-ion batteries for hybrid, plug-in hybrid, and electric vehicles.
October 2008: Samsung's Stock Market Decline
Following the patent infringement verdict, Samsung's shares experienced their most significant drop since October 24, 2008.
2008: Samsung Launches Solstice Smartphone Line
In 2008, Samsung launched its first smartphone platform, the Samsung Solstice line, later evolving into the Galaxy series.
December 2009: Lee Kun-hee Pardoned Despite Conviction
Despite being sentenced to prison for financial crimes, Lee Kun-hee was pardoned in December 2009 by President Lee Myung-bak to remain on the International Olympic Committee.
2009: Dissolution of GE Samsung Lighting
In 2009, the joint venture between Samsung and GE Lighting known as GE Samsung Lighting was dissolved.
2009: Samsung's Financial Performance in FY 2009
Samsung's consolidated revenue reached 220 trillion KRW (approximately $172.5 billion) in the fiscal year 2009.
December 2010: Samsung Acquires MEDISON Co.
Marking its first step into the medical equipment market, Samsung Electronics acquired the South Korean company MEDISON Co. in December 2010, as part of a diversification strategy.
2010: Samsung's Financial Results in FY 2010
In fiscal year 2010, Samsung recorded a consolidated revenue of 280 trillion KRW ($258 billion) and a profit of 30 trillion KRW ($27.6 billion).
2010: "Thinking about Samsung" Published
Kim Yong-chul published "Thinking about Samsung" in 2010, detailing Samsung's unethical lobbying practices and efforts to transfer management to Lee Jae-yong.
2010: Global Shipbuilding Powerhouse
Samsung Heavy Industries secured its position as the world's second-largest shipbuilder by 2010, based on revenue.
2010: Renault Acquires Majority Stake in Samsung Motor
By 2010, Renault owned 80.1% of Samsung Motor after its acquisition, with Samsung retaining a 19.9% stake.
2010: Samsung Medical Center and Pfizer Partner on Hepatocellular Carcinoma Research
In 2010, Samsung Medical Center and Pfizer initiated a research collaboration to investigate the genomic mechanisms of hepatocellular carcinoma.
2010: Samsung Announces Biopharmaceutical Investment
In 2010, Samsung committed ₩2.1 trillion to biopharmaceuticals as part of its ten-year growth strategy.
March 2011: Samsung Fire & Marine Insurance Expands Operations, Serving 6.5 Million Customers
By March 2011, Samsung Fire & Marine Insurance had expanded its operations to 10 countries, serving 6.5 million customers.
March 2011: Samsung Fire & Marine Insurance Records Strong Financial Performance
As of March 2011, Samsung Fire & Marine Insurance recorded total assets of $28.81 billion.
April 2011: Structure of the Samsung Group
As of April 2011, Samsung Group consisted of 59 private companies and 19 publicly listed companies, all primarily traded on the Korea Exchange.
July 2011: Samsung Acquires Grandis Inc.
In July 2011, Samsung acquired Grandis Inc., a company specializing in MRAM technology. Grandis Inc. was integrated into Samsung's R&D operations to focus on developing next-generation memory solutions.
August 2011: Exchange Rate Information
The financial figures reported for FY 2010 were based on an exchange rate of 1,084.5 KRW to 1 USD, which was the prevailing spot rate on August 19, 2011.
October 2011: Samsung Fined for DRAM Price Fixing
In October 2011, Samsung was fined €145,727,000 for participating in a DRAM price-fixing cartel from July 1998 to June 2002.
December 2011: Samsung Life Insurance Expands Global Presence, Serving 8.08 Million Customers
By December 2011, Samsung Life Insurance had expanded its operations to seven countries, serving 8.08 million customers.
December 2011: Video Implicates Lee Kun-hee in Sex Scandal
A video filmed in December 2011, among other dates, appeared to show Lee Kun-hee engaging in sex acts with prostitutes. This was part of footage released in July 2016.
December 2011: Samsung Life Insurance Reports Strong Financial Results
In December 2011, Samsung Life Insurance reported total assets of 161,072 billion won.
December 2011: Samsung Acquires Sony's Shares in S-LCD
On December 26, 2011, Samsung Electronics announced its acquisition of all shares held by Sony in the S-LCD Corporation joint venture.
December 2011: Samsung Buys Out Sony's Stake in LCD Venture
Samsung Electronics acquired Sony's entire stake in their joint LCD venture, established in 2004, for 1.08 trillion won in December 2011.
December 2011: Samsung Acquires Sony's Stake in S-LCD
Samsung took full control of S-LCD, a joint venture with Sony, by acquiring Sony's stake in the company in December 2011.
2011: Formation of SMP Ltd.
In 2011, Samsung Fine Chemicals and MEMC formed SMP Ltd. as a joint venture to build a polysilicon plant.
2011: Samsung Heavy Industries Becomes World's Second-Largest Shipbuilder
Samsung Heavy Industries achieved total revenues of 13,358.6 billion won in 2011, becoming the world's second-largest shipbuilder by revenue.
2011: Samsung Biologics Founded as Biopharmaceutical Division
Samsung established its biopharmaceutical division, Samsung Biologics, in 2011, focusing on contract development and manufacturing (CDMO) services.
2011: Samsung as a Semiconductor Powerhouse
Samsung secured its position as the world's second-largest semiconductor manufacturer by revenue in 2011, trailing behind Intel.
2011: Samsung Engineering Achieves US$8.06 Billion in Revenue
In 2011, Samsung Engineering reported total revenues of 9,298.2 billion won (US$8.06 billion).
May 2012: Samsung Acquires mSpot to Launch Music Hub
In May 2012, Samsung acquired mSpot, a cloud-based music service, paving the way for the launch of their own service, Samsung Music Hub.
August 2012: Samsung Found Liable for Patent Infringement
A US court ordered Samsung to pay Apple $1.05 billion in August 2012 for infringing on six smartphone technology patents.
December 2012: Samsung SDI Fined for Price-Fixing in TV Cathode-Ray Tube Cartel
The European Union fined Samsung SDI and other companies on December 5, 2012, for their involvement in a price-fixing cartel for TV cathode-ray tubes.
December 2012: Samsung Acquires NVELO for Storage Software Development
Strengthening its SSD technology, Samsung acquired the privately-held storage software vendor NVELO in December 2012. NVELO was integrated into Samsung's R&D, focusing on software to optimize next-gen SSD storage for various computing platforms.
December 2012: Criticism of Samsung's Influence in South Korea
In December 2012, criticisms surfaced regarding Samsung's substantial influence on South Korea's economy and political landscape, with concerns about potential monopolistic practices and undue influence.
2012: Advertising Prowess
Cheil Worldwide, a subsidiary of Samsung, attained recognition as the 15th largest advertising agency globally in 2012, as determined by revenue.
2012: Samsung Dominates Global Mobile Phone Market
Samsung captured a commanding 25.4% global market share in the mobile phone sector in the first quarter of 2012, solidifying its position as the world's largest mobile phone maker by unit sales.
2012: Samsung Becomes Top Mobile Phone Vendor
Samsung became the world's leading mobile phone maker by unit sales in the first quarter of 2012, surpassing Nokia, who held the position since 1998.
2012: Samsung Becomes the World's Biggest Advertiser
Outspending its competitors, Samsung became the world's largest advertiser in 2012, investing $4.3 billion compared to Apple's $1 billion, demonstrating its aggressive marketing strategy.
2012: Significant Investment in Austin Facility
By 2012, Samsung's total investment in its Austin facility, known as Samsung Austin Semiconductor, surpassed US$13 billion. This substantial investment solidified the Austin location as the largest foreign investment in Texas and one of the most significant single foreign investments in the entire United States.
2012: Samsung SDS Achieves US$5.71 Billion in Revenue as Korea's Largest IT Service Company
By 2012, Samsung SDS had become Korea's largest IT service company, achieving total revenues of 6,105.9 billion won (US$5.71 billion).
2012: Complaints About Child Labor in Samsung's Supply Chain Arise
Beginning in 2012 and continuing through 2015, Samsung faced several complaints and scrutiny regarding the use of child labor within its supply chain.
January 2013: Samsung Acquires NeuroLogica to Expand in Medical Technology
Furthering its expansion into the medical technology sector, Samsung acquired medical imaging company NeuroLogica in January 2013 for an undisclosed amount.
June 2013: Video Implicates Lee Kun-hee in Sex Scandal
A video filmed in June 2013, among other dates, appeared to show Lee Kun-hee engaging in sex acts with prostitutes. This was part of footage released in July 2016.
2013: Samsung's Advertising Expenditure Reaches $14 Billion
In 2013, Samsung Electronics dedicated a significant 5.4% of its annual revenue, amounting to $14 billion, towards advertising and marketing, surpassing other top global companies in this aspect.
2013: Samsung Taiwan Investigated for False Advertising
Taiwan's Fair Trade Commission launched an investigation into Samsung and its advertising agency in 2013 for alleged false advertising practices.
July 2014: Samsung Severs Ties with Shinyang Electronics Over Child Labor Violations
Following a complaint and internal investigation, Samsung terminated its contract with supplier Shinyang Electronics in July 2014 due to evidence of child labor law violations, demonstrating Samsung's "zero tolerance" policy towards such practices.
July 2014: TechCrunch Reports Samsung's Acquisition of SmartThings
News of Samsung's acquisition of SmartThings first broke in July 2014 by TechCrunch, who reported a $200 million price tag. The deal was officially confirmed by Samsung in August 2014.
July 2014: Samsung Supplier Accused of Child Labor
In July 2014, China Labor Watch accused Samsung supplier HEG of using underage workers at a factory in Huizhou, Guangdong.
August 2014: Samsung Acquires SmartThings for $200 Million
In August 2014, Samsung acquired the home automation startup SmartThings for a reported $200 million, signaling its intentions to invest in the "smart home" market.
August 2014: Samsung Acquires Quietside to Boost Smart Home Business
Continuing its investment in the smart home market, Samsung acquired the U.S. air conditioner distributor Quietside LLC in August 2014, aiming to integrate their products into their smart home ecosystem.
August 2014: Samsung Denies Child Labor Allegations, CLW Issues Statement
In August 2014, HEG denied the child labor charges and sued China Labor Watch. CLW responded with a statement claiming HEG employed children as young as 14 and had dismissed them before Samsung's investigation.
November 2014: Samsung Acquires Proximal Data, Inc.
Samsung acquired Proximal Data, Inc., a company specializing in server-side caching software for virtualized systems, in November 2014.
December 2014: Hanwha Group to Acquire Hanwha Techwin
In December 2014, it was announced that Hanwha Group would acquire Hanwha Techwin.
2014: Lee Kun-hee Suffers Heart Attack
Lee Kun-hee suffered a heart attack in 2014 and remained in a coma until his death in 2020.
2014: Samsung Settles DRAM Price Fixing Case in Canada
In 2014, Canada reopened an investigation into DRAM price-fixing from 1999-2002, leading to a $120 million settlement with Samsung and other companies.
2014: Biogen Idec to Commercialize Samsung Bioepis' Anti-TNF Biosimilars in Europe
In 2014, Biogen Idec partnered with Samsung Bioepis to commercialize anti-TNF biosimilar products in Europe.
2014: Samsung's Integration of Vietnamese Businesses into Global Supply Chain (2014-2022)
Between 2014 and 2022, Samsung's presence in Vietnam led to a tenfold increase in the number of Vietnamese businesses becoming part of its global supply chain, demonstrating the company's impact on the local economy.
2014: Samsung Unveils Samsung Sharp Sans Font
In 2014, Samsung introduced its own typeface, Samsung Sharp Sans, to establish a distinctive visual identity for its brand.
February 2015: Samsung Acquires LoopPay to Enhance Mobile Payment Capabilities
To strengthen its mobile payment services, Samsung acquired the U.S.-based mobile payments company LoopPay in February 2015.
March 2015: Samsung Acquires YESCO Electronics
Expanding its display technology portfolio, Samsung acquired the U.S.-based LED display manufacturer YESCO Electronics, known for its digital billboards and message signs, in March 2015.
June 2015: Hanwha Group Completes Takeover of Hanwha Techwin
The acquisition of Hanwha Techwin by Hanwha Group was finalized in June 2015.
August 2015: Samsung SDI Begins Using "21700" Cell Format
Samsung SDI started using the "21700" cell format in August 2015.
2015: Samsung Discontinues Its Audio Logo
Samsung's audio logo, composed by Walter Werzowa and featuring the notes E♭, A♭, D♭, E♭, was discontinued in 2015.
2015: Samsung Remains Under Scrutiny for Child Labor Practices
Despite efforts to address the issue, Samsung continued to face criticism and scrutiny regarding child labor practices in its supply chain until 2015.
2015: Samsung Leads in US Patent Grants
By 2015, Samsung had secured the top position for receiving the highest number of US patents.
July 2016: Video Implicates Lee Kun-hee in Sex Scandal
In July 2016, KCIJ-Newstapa released a video appearing to show Lee Kun-hee engaging in sex acts with prostitutes between December 2011 and June 2013.
July 2016: Samsung Unveils SamsungOne Font
To create a cohesive brand identity across its product range, Samsung unveiled the SamsungOne font in July 2016. This typeface supports over 400 languages and is designed for optimal readability across a variety of devices.
August 2016: Galaxy Note 7 Release
The Galaxy Note 7 was launched on August 19, 2016.
September 2016: Galaxy Note 7 Recall
Samsung halted sales and initiated an informal recall of the Galaxy Note 7 in early September 2016 due to battery overheating issues.
October 2016: Galaxy Note 7 Discontinuation
Samsung issued a global recall for all Galaxy Note 7 smartphones in October 2016, ultimately ceasing production.
October 2016: Samsung Acquires Viv Labs for Artificial Intelligence
In a move to bolster its AI capabilities, Samsung acquired Viv Labs, an artificial intelligence company, in October 2016.
November 2016: Samsung Canada Acquires Rich Communications Services Company
Focusing on advancements in messaging technology, Samsung Canada acquired a company specializing in Rich Communications Services (RCS), a next-gen text messaging technology, in November 2016.
2016: Samsung Implicated in Funding Pro-Government Demonstrations
In 2016, it was revealed that Samsung and other major South Korean companies funded pro-government demonstrations by conservative groups.
2016: Sale of Samsung General Chemicals
In 2016, Samsung sold one of its chemical divisions to Lotte Corporation, following an earlier sale of Samsung General Chemicals to Hanwha.
2016: Samsung Australia Fined for Misleading Water Resistance Claims
From 2016 to 2018, Samsung Australia advertised misleading water resistance features for Galaxy smartphones, resulting in a fine in 2022.
February 2017: Lee Jae-yong Arrested for Bribery and Embezzlement
In February 2017, Lee Jae-yong was arrested for bribery, embezzlement, and other charges related to a merger deal and alleged payments to a friend of President Park Geun-hye.
2017: Dominance in Electronics
By 2017, Samsung Electronics emerged as a global leader, becoming the world's top information technology company, consumer electronics manufacturer, and chipmaker based on revenue.
April 2018: Former CJ Employee Sentenced in Blackmail Case
On April 12, 2018, a former employee of CJ CheilJedang was sentenced to prison for blackmail and intimidation related to the Lee Kun-hee sex scandal.
2018: Samsung's Significant Contribution to Vietnam's Exports (2018-2022)
From 2018 to 2022, Samsung's operations in Vietnam significantly boosted the country's export revenue, contributing over $306 billion. This period marked Samsung's growing presence in the Vietnamese market.
2018: Samsung Australia Fined for Misleading Water Resistance Claims
Samsung Australia faced a fine in 2022 for misleading water resistance claims in its advertising for Galaxy smartphones from 2016 to 2018.
2018: Samsung Opens Noida Mobile Manufacturing Facility
Samsung inaugurated the world's largest mobile phone manufacturing plant in Noida, India, in 2018.
May 2020: Samsung Apologizes for Union-Busting Scandals
On May 6, 2020, Samsung vice chairman Lee Jae-yong apologized for the company's union-busting activities around the world.
2020: Samsung Linked to Forced Uyghur Labor
In 2020, the Australian Strategic Policy Institute linked Samsung and other major brands to forced Uyghur labor in Xinjiang.
2020: Lee Kun-hee Passes Away
Lee Kun-hee passed away in 2020 after being in a coma since 2014.
2020: Brand Value Reaches New Heights
In 2020, Samsung achieved the eighth-highest brand value globally, solidifying its position as a leading brand.
August 2021: Lee Jae-yong Released Early from Prison
In August 2021, Lee Jae-yong was released early from prison after serving 10 months of his sentence under South Korea's Liberation Day clemency tradition.
August 2022: Lee Jae-yong Receives Presidential Pardon
In August 2022, Lee Jae-yong received a presidential pardon supported by a majority of the Korean public, according to polls.
2022: 257 Vietnamese Businesses in Samsung's Global Supply Chain
By the end of 2022, Samsung had integrated 257 Vietnamese businesses into its global supply chain, a significant increase from 25 in 2014, showcasing the company's efforts to localize its supply network.
2022: Samsung's Export Revenue Reaches $65 Billion in Vietnam
Despite the challenges posed by the COVID-19 pandemic, Samsung's export revenue from Vietnam reached $65 billion in 2022, playing a crucial role in Vietnam exceeding the $700 billion mark in total export value.
2022: Samsung Australia Fined for Misleading Water Resistance Claims
In 2022, Samsung Australia was fined AU$14 million for misleading water resistance claims in its advertising for various Galaxy smartphones between 2016 and 2018.
2022: Samsung's Profit Decline
Samsung experienced a sharp decline in quarterly operating profit in 2022, dropping to an estimated 600 billion won from 14 trillion won in the previous year.
2022: Samsung's Economic Impact on South Korea
Samsung's revenue in 2022 represented 22.4% of South Korea's GDP, highlighting the company's significant contribution to the nation's economy.
2023: Samsung Reduces Memory Chip Production
In 2023, Samsung announced a reduction in memory chip production following a projected 96% decrease in quarterly operating profits, attributed to weak post-COVID demand and a global economic slowdown.