Samsung's Major Competitions And Comparison Of Samsung Electronics

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Section 5. One of Apple 's’ major competitors is Samsung Electronics. Samsung is a South Korean company that was founded initially as a trading company in 1938 by Lee Byung-chul. Since then the company has diversified into multiple markets including food processing, textiles, insurance, securities and retail. Now however, Samsung is best known for its market share in the electronics industry which it entered in the 1960s which has become the company 's most important source of income (Samsung, 2017). Throughout the 1990s seen Samsung Electronics flourish in the mobile phone industry. This lead to them expanding globally and building factories in the US, Britain, Germany, Thailand, Mexico and China until 1997. The Asian financial crisis in 1997 lead to the downslide of many Korean firms and inevitably of Samsung. Samsung had to sell businesses to relieve some of their debt and lower employees to 50,000 persons. Thanks to the electronic industry, their most important source of income, Samsung was able to survive the financial crises and continue to grow their global brand. Apple competes mainly with Samsung Electronics’ part in the mobile phone industry and the history of Samsung Electronics producing mobile phones stretches back to over 20 years. In 1993, Samsung Electronics developed the ‘lightest’ mobile phone of its time. It was called the SCH-800 and it was available on CDMA networks which are still the world 's most widely used cell phone network today. Towards the end

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