Wooden rice cookers, dehydrated fish and rubber boots: These were big tech giants like Sony, Samsung and Nokia’s first products World’s most loved phone brand was once into manufacturing of rubber boots. Similarly YouTube, the video sharing platform was launched as video dating site. Let’s take a look at some of the famous tech companies and their lucrative pivots during the journey.
December 27, 2020 / 04:23 PM IST
What if we tell you that some of your favourite brands were once into different kind of businesses when they started? Yes you read it right. World’s most loved phone brand once was into manufacturing of rubber boots. Similarly YouTube, the video sharing platform was launched as video dating site. Let’s take a look at some of the famous tech companies and their lucrative pivots later during the journey.
Samsung | Country: South Korea | The company was founded in 1938 and was originally in the food export business, shipping dehydrated fish from Korea to China. During 1950 – 1960, the company started businesses in close to everything. From dehydrated fish to insurance and textile, isn’t it bizarre? The company released its first major electronic product, a black-and-white TV in 1970. And now the South Korean multinational conglomerate company rose to prominence with TVs, with worth more than $275 billion.
Sony | Country: Japan | Founded in 1945, the company was then known as the Tokyo Telecommunication Research Institute and use to design a simple electrical wooden rice cooker to help post-war Japan cook. But due to the inconsistent electrical connections across the country the prototype never went to market. Then in 1968 Sony released its first TV, then Sony Walkman in 1979 and so the company went on to grow. Rice cookers may be Sony’s first failure but now Sony is one of the most trusted names in electronics, maker of PlayStation video game console, and one of the largest video game publishers.
Twitter | Country: United States | In 2005 Twitter was known as Odeo, a podcasting site. Later on in a brainstorming session held by Odeo Company, the idea of a 140-character message service was introduced. The microblogging and social networking service was unveiled in 2007 at South by Southwest (SXSW), an annual conglomeration. Twitter went public on November 17, 2013 and now the platform has 320 million active users as of January 2020 and is worth more than $30 billion.
Nokia | Country: Finland | One of the most iconic and world’s most loved phone brand, Nokia was founded in 1973 after two Finnish companies merged. Back then, Nokia was not known for its phones, instead, it was a successful rubber boot company in the 70s and 80s. In the 1990s Nokia started focusing on mobile hardware and connectivity. It is now a major contributor to the mobile telephony industry and once was the largest vendor of mobile phones and smartphones. Nokia had its peak in 2000 but after a subsequent market struggle, Microsoft acquired its mobile business in the year 2013. At present, even after the market is dominated by Android and iPhone, Nokia still has a value of $24 billion.
YouTube | Country: United States | The now online video-sharing platform was launched in 2005 as a video dating site but after when company faced difficulty in finding enough dating videos, they changed their plans and decided to accept uploads of any type of video. A year later in 2006 tech giant Google acquired YouTube for $1.65 billion. YouTube now operates as one of Google’s subsidiaries. An average of 2 billion people use YouTube every month.