Samsung Ranks 19th in Fortune Global 500... Drops 4 Places from Last Year
Samsung Electronics 19th, Hyundai Motor 84th, SK 97th... US Walmart 1st
[Asia Economy Reporter Dongwoo Lee] Samsung Electronics ranked 19th this year in the 'Global 500 Companies' selected by the leading U.S. economic magazine Fortune, dropping 4 places from the previous year.
According to the business community on the 11th, Samsung Electronics ranked 19th among the top 500 companies with sales of $197.7 billion last year (based on consolidated financial statements). Fortune selects and announces the top 500 global companies annually based on sales.
Samsung Electronics ranked 14th in 2013 and maintained 13th place from 2014 to 2016. It dropped 2 places to 15th in 2017 and recorded its highest-ever ranking at 12th in 2018.
Fortune stated, "Samsung Electronics' sales fell by nearly 11% this year, and profits decreased by more than half," adding, "This mainly caused a 4-step drop in the list this year due to the downturn in the memory chip industry."
Among domestic companies, Hyundai Motor Company rose 10 places from 94th last year to 84th. Following were SK (97th), POSCO (184th), and LG Electronics (207th) on the list.
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Meanwhile, Walmart of the United States took first place in the Global 500 Companies for this year, following last year. China Petroleum & Chemical Corporation (Sinopec) and State Grid Corporation of China ranked 2nd and 3rd, respectively.
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