Samsung survived the Asian financial crisis of 1997-98 relatively unharmed compared to other major Korean firms, however, Samsung Motor Co, a $5 billion venture was sold to Renault at a staggering loss. Most importantly, Samsung Electronics (SEC) was officially spun-off the Samsung Group and had become to dominate the group, Korea, and the worldwide semiconductor business, even surpassing worldwide leader Intel in investment for the 2005 fiscal year. Samsung's brand strength has improved impressively in the last few years, despite an environment of scandaland political intrigue.
Considered a strong competitor and a benchmark by Japan, Silicon Valley, Taiwan, and domestically, Samsung Electronics (SEC) expanded production dramatically to become the world's largest manufacturer of DRAM, refrigerators, flash memory, dvd-combo players, and aims to double sales and become the top manufacturer of 20 products globally by 2010. It is now one of the world's leading manufacturers in plasma displays and next generation mobile phones. Samsung has even managed to gain prominence in Japan, the home of Sony and Panasonic.
Due to their involvement in many fields, Samsung is involved in seemingly never-ending legal controversies, such as the one over patent infringements with companiessuch as Fujitsu who claim to have created plasma display technology first. Samsung has also faced controversy in Korea for its policies towards workers, described by some as anti-worker, although such claims are widely disputed.
Samsung Electronics saw record profits and revenue in 2004, and in 2005, overtook Sony as one of the worlds most valuable brands, and is now ranked #20 in the world.
On November 30, 2005 Samsung pleaded guilty to a charge it participated in a worldwide DRAM price fixing conspiracy during 1999-2002 that damaged competition and raised PC prices. In a deal with prosecutors, Samsung Electronics Co. Ltd. and its U.S. subsidiary, Samsung Semiconductor Inc., are to pay $300 million fine. As a result of this investigation, Hynix was to pay $185 mln in 2005, Infineon: $160 mln in 2004. Micron Technology, the US firm who initiated the case, cooperated with prosecutors and no fine is expected. Recently, a severely weakened Micron has teamed up with Intel to take on Samsung in the lucrative NAND flash business, although Intel has no desire to fully engage Samsung after Samsung drove Intel out of the flash business.