Category Big Business1

          The Tsar of Russia chose Philips to light up his palace as they produced reliable and cost-effective electric bulbs.

          In 1891, Frederik Philip decided to fund his son Gerard’s dream project to make quality light bulbs for everyone who needed them and thus, Philips was born. After twenty five years of production of carbon filament bulbs, Philips gained royal recognition after which they decided to branch out.

          The company was concerned about the well-being of people and soon got into the medical field, producing X-ray radiation equipment. Around the same time, they began producing radios. The work experience with radios helped them in the manufacture of television. Their product line diversified and started to include Philishave- the revolutionary electric shaver, CDs, DVDs, and so on.

          By the 1990s, Philips channelled their attention towards healthcare. They also produce a range of products like electric kettle, trimmers, and hair straighteners.

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          Nokia introduced the world’s first mobile phone. The company took shape in 1865 in Finland. Fredrik Ides-tam started his business with a paper mill. Later, he branched out to electronics. In 1979, Nokia joined hands with Finnish TV maker Salora to develop the world’s first international cellular network- the Nordic Mobile Telephone (NMT) service.

          Five years later Nokia launched the Mobira Cityman, the first mobile phone. Though heavy and overpriced, it soon became a status symbol and Nokia made huge profits. The iconic Nokia ringtone was released in 1994 with the launch of Nokia 2100. By 1998, the company’s turnover increased by a massive 500 per cent. But, things began to change by 2007. The company started to run at a loss and was later acquired by Microsoft. Still, Nokia is remembered for some of the most memorable phones.

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          Samsung entered the electronics industry in 1969; it first produced black-and-white televisions which helped to establish it as a major brand, not only in Korea, but overseas as well. The decades that followed were marked with rapid expansion. Samsung came out with a range of products including refrigerators, computers, washing machines, microwave ovens and fax machines that helped the company in securing a position in the global market.

          Their mobile phone business began to invest heavily in research and development throughout the 1980s. The 2000s were a game changer for Samsung. Samsung’s Galaxy smartphone series hit the market. Soon, the series became the company’s most-praised product and frequently topped the annual lists of the best-selling smartphones in the world. The Galaxy series expanded into tablets in 2010.

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         Samsung started off as a grocery trading store in 1938. Lee Byung-Chull, the founder began his business by trading noodles, dried fish and vegetables. After the Korean War, he started a textile mill, thereby expanding his business. From the beginning, his strategy was to diversify and expand. Soon, he stepped into construction work, logistics and insurance and Lee met with success in all his endeavours.

          The Korean economy would suffer a major backlash if Samsung decides to leave business forever. Samsung is branched out into four major sections including electronics, engineering, construction, and most high-tech products. Samsung Group now have their presence in almost eighty fields including textiles, ship building, aerospace manufacture, oil mining, construction works, high-polymer chemicals, genetic engineering tools, telecommunications and nanotechnology.

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          The tape recorder was just a starter in Sony’s menu. In 1957, Sony introduced the world’s first direct-view portable TV, the TV8-30. They kept modifying their television designs for better performance, but the best was yet to come.

          In 1979, Sony launched a product that changed their history and revolutionized music- Sony Walkman. It answered the need for a portable personal sound stereo. The new stereo came with headphones, so that one could listen to music anywhere without disturbing others. As the product hit the market, every music lover dreamt of owning a Walkman.

          Walkman was followed by Discman, a portable CD player, Handycam, High Definition Handycam, an upgraded version of Handycam and many others. Sony is also a major player in the music and film industries. Sony Music and Sony Pictures divisions dominate the world entertainment industry.

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          When Masaru Ibuka and Akio Morita started their business from scratch, they did not possess anything except the readiness to work hard. It was 1946 and Japan had still not recovered from the effects of war. Their drive for success came from this national situation. The two started their company Tokyo Telecommunications Engineering Corp. in a bombed out departmental store.

          Both Ibuka and Morita were friends from the army. Ibuka was a genius in product development and Morita had commendable management skills. They began with making electric rice cookers which was not so successful. After some experiments, they came out with a tape recorder. The Japanese loved this invention and the sales sky-rocketed. As they decided to go international in 1958, they changed the company’s name to Sony, a combination of ‘sonus’ the Latin word for sound and the American word ‘sonny’.

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