Overview, History and Current Structure of SamsungOver the past 70 years, Samsung Group has grown its business through dedication and a business ethic based on a strong work ethic. Over the years, Samsung has diversified its business with holdings in the chemical, hospitality, healthcare, high finance and apparel sectors, among others. This includes an extensive network of affiliated companies with over sixty subsidiary groups. Samsung also has the distinction of owning Korea's first amusement park. Byung-chull Lee was born in 1910 and at the age of 28, in 1938, he founded what is now known as the Samsung Group. At that time the company was small and mainly sold groceries and groceries. After the Korean War ended, he purchased a small sugar refinery and wool mill in the early 1950s. In an effort to grow and diversify the company, Lee created Samsung Electronics in 1969. However, due to Korea's poor economy, little capital investment, and low-quality electronics, Samsung electronics' growth was slow. In order to compete at the time, Samsung largely assembled products from foreign parties. Initially there was a huge gap between the quality of Samsung products and that of their Japanese competitors. For example, while Japanese manufacturers were selling color televisions, Samsung was still producing black and white televisions. Over time, however, Samsung Electronics was able to adapt foreign technology and substantially expand its product offerings. They eventually branched out into home appliances, kitchen electronics, as well as televisions and VCRs. However, all this growth in the early days of Samsung Electronics pales in comparison to the exponential growth seen after the mid-paper. ......en in a niche market. These phones have performed well because some of them impress consumers although it is not easy to predict market trends. Furthermore, in the digital age, the life cycle of electronic goods is shortening. For this reason, Samsung has decided to develop many different and new mobile phones every year, in an attempt to follow the trend as quickly as possible. Over the past 10 years, Samsung has shown tremendous growth as a company. Before the turn of the millennium, electronics manufacturer Sony had double the market capitalization of Samsung, however three years later, Samsung has overtaken what was once the world's largest electronics company and the gap between the two companies continues to expand. According to Samsung's 2013 general meeting of shareholders, net profit increased by 13.5% compared to 2012, and the future continues to look bright for Samsung.