June 19, 1998 in Social Responsibility News

SAMSUNG Produces 50 Millionth Microwave Oven

SEOUL, Korea - June, 19, 1998 - Samsung Electronics Co., Ltd., will produce its 50 millionth microwave oven , a milestone never reached before with any of its appliance products. This record was achieved in just 19 years, after microwave oven production commenced in 1979. Only three companies have produced 50 million microwaves, and Samsung did it faster than the other two, Panasonic (in 33 years) and Sharp (in 34 years).
To mark this historic occasion, Samsung will hold a commemorative ceremony and issue a PR publication in Korea. Samsung's overseas subsidiaries are also planning special events for consumers as part of a sales promotion campaign.

Samsung Electronics will invite its major overseas dealers and buyers to a special event (in Korea) in an effort to bring them closer together.

Samsung Electronics came out with its first microwave oven model (the RE-705D) in 1979, and exported ten thousand units the next year to the US and UK. In 1984, microwave exports surpassed US$100 million. Samsung developed a unique model for Korea in 1987, and aggregate production reached 10 million units in 1988. Global models were introduced in 1990, and a new production method (cell production) was adopted in 1995.

Samsung microwave ovens were rated "Best Products" by Consumer Report in 1996 and 1997.

Reasons attributed to Samsung's success include (1) overseas market diversification from the initial stages, (2) high credibility with dealers as a result of a Quick Response system, (3) aggressive investment in overseas production, and (4) strong price competitiveness (from reductions in distribution and production costs).

Samsung Electronics will take advantage of its impressive track record to elevate brand image. The company will also develop next-generation global models and use its Global Quick Response system to quickly and flexibly cope with market changes. Global marketing efforts will be strengthened further so that by 2001 the company can occupy 30% of the world market.

In Samsung Electronics Co., Ltd., there are three main business units:


.Multimedia & Home Appliances
.Semiconductors
.Information & Telecommunications
Samsung Electronics Co., Ltd., a US $13 billion (1997) flagship company of Korean-based the Samsung Group, is a world leader in electronics, with operations in more than 60 countries and 85,000 employees Worldwide.


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