From its inception as a small export business in Taegu, Korea, Samsung has grown to become one of the world's leading electronics companies, specializing in digital appliances and media, semiconductors, memory, and system integration. Today Samsung's innovative and top quality products and processes are world recognized. This timeline captures the major milestones in Samsung's history, showing how the company expanded its product lines and reach, grew its revenue and market share, and has followed its mission of making life better for consumers around the world.
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1970-1979 Diversifying in Industries and Electronics
In the 1970s, Samsung laid the strategic foundations for its future growth by investing in the heavy, chemical, and petrochemical industries.
During this time, the company also took steps to enhance its competitive position in the world's textile industry, integrating its manufacturing processes from raw materials to end products. As a result, many new companies were created, including Samsung Heavy Industries Company in 1974 and Samsung Shipbuilding and Samsung Precision Company (now Samsung Techwin) in 1977.
Another burst of growth for Samsung came from the burgeoning home electronics business. Samsung Electronics, already a major manufacturer in the Korean market, began to export its products for the first time during this period. Samsung's also acquired a 50 percent stake in Korea Semiconductor, further solidifying Samsung Electronics' position as a leader in semiconductor manufacturing.