SAMSUNG Electronics Co topped US$100 billion in market value yesterday, one of only four Asian companies above that mark, after outspending rivals to become the world’s biggest maker of memory chips and televisions.
Shares of Samsung climbed 5.1 percent to 699,000 won (US $702), pushing the capitalization of the Suwon, South Korea-based company to close at a record 103 trillion won, or US$103 billion. Samsung is now second in size to Vodafone Group Plc among non-US technology stocks and has overtaken the values of Finland’s Nokia Oyj, Motorola Inc and Japan’s Sony Corp this decade.
Chairman Lee Kun Hee, whose father founded Samsung in 1969 as a black-and-white TV maker, is reaping the rewards of a strategy that created the world’s largest supplier of computer memory chips, TVs and six other electronic products through investments. Samsung now aims to double sales and be the top maker of 20 products globally by 2010.
It’s also relevent to see what’s happened to their share valuation since they began their focus on the quality end of their markets. As an example — making products for Sony that Sony figures can be more profitably produced by Samsung.
It is not just euro think it is big business.The people who run large companies in this world really do feel they have more rights than the average joe.This translates into this kind of reaction when they feel like their company has been shown what they feel is a lack of respect.This and a general feeling in europe that the net is an american “thing”is the cause of what is going on.
Not just TVs and monitors. Samsung makes very good cell phones as well. They appear to be making a lot of electronics products well.