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Wang emigrated to the USA in 1945. He developed his own company with the $500,000 he received from IBM from the sale of his patent. One of his early contracts was the first electronic scoreboard, installed at New York's Shea Stadium. His company took off in 1964 with the introduction of a desktop calculator. Later, Wang switched with great success to the newly emerging market for word-processing systems based on cheap silicon chips, turning Wang Laboratories into a multibillion-dollar company. But with the advent of the personal computer, the company fell behind and had to seek protection from its creditors. It staged a comeback, doubling in size 199497 to achieve annual revenues of $1.3 billion.
The points of the star represent the first seven verses of the Koran. Red, black, white, and green became the pan-Arab colours. Effective date: 16 April 1928.
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