The Samsung Group is a South Korean conglomerate that includes a number of subsidiaries. It is one of Korea's largest companies, producing nearly a fifth of the country's total exports, with a primary focus on the electronics, heavy industry, construction and defense sectors. . The digital age has brought revolutionary changes and opportunities to global commerce and Samsung Electronics has responded with advanced technologies and constant innovations. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an original essay. Samsung's other major subsidiaries include businesses in the insurance, advertising and entertainment industries. Samsung Electronics was founded in 1969 and quickly became a major manufacturer in the Korean market. During this initial period, an explosion of growth came from the burgeoning home electronics sector and the company began exporting its products for the first time. Samsung Electronics also acquired a 50 percent stake in Korean semiconductors, strengthening Samsung Electronics' position as a leader in semiconductor manufacturing. Profit strategy is when a rapidly growing organization, by significantly expanding the scope of one or more of its activities in terms of customer groups, makes alternative changes in order to improve its overall performance. With just 30,000 won (about 27 US dollars), Lee Byung-chull started Samsung on March 1, 1938, as a trading company based in Taegu, Korea. The small business of just 40 employees started as a grocery store, marketing and exporting products produced in and around the city, such as fish and dried Korean vegetables, as well as its own noodles. Samsung grew and quickly expanded to Seoul in 1947, but left once the Korean War broke out. After the war, they opened a sugar refinery in Busan, called Cheil Jedang, before expanding into textiles and building Korea's largest woolen mill at the time. In 1980, Samsung entered the telecommunications equipment industry with the purchase of Hanguk Jenja Tongsin. Initially manufacturing telephone switchboards, Samsung expanded into telephone and fax systems, before turning to the manufacture of mobile phones. The mobile phone sector was consolidated with Samsung Electronics which began investing heavily in research and development throughout the 1980s. During this period, Samsung Electronics expanded to Portugal, New York, Tokyo , England and Austin, Texas. In 1987, with the death of Lee Byung-chull, the Samsung Group was divided into four business groups, leaving electronics, engineering, construction and most high-tech products to the Samsung Group. Retail, food, chemicals, logistics, entertainment, paper and telecommunications were divided among Shinsegae, CJ and Hansol groups. Samsung grew as an international company throughout the 1990s. Sony partnered with Samsung in 2006 to develop a stable supply of LCD panels for both companies, which was a growing problem for Sony, which did not hadn't invested in large LCD panels. While the partnership was almost 50-50 split, Samsung owned one more share than Sony, giving them control of manufacturing. In late 2011, Samsung bought out Sony's stake in the partnership and took full control. In the future, Samsung will focus on five businesses.