SEOUL (Reuters) - Samsung Electronics Co Ltd (005930.KS) has ended mobile telephone production in China, it said on Wednesday, hurt by intensifying competition from domestic rivals in the world’s biggest smartphone market.
The shutdown of Samsung’s last China phone factory comes after it cut production at the plant in the southern city of Huizhou in June and suspended another factory late last year, underscoring stiff competition in the country.

The South Korean tech giant’s ceased phone production in China follows other manufacturers shifting production from China due to rising labor costs and the economic slowdown.
Sony also said it was closing its Beijing smartphone plant and would only make smartphones in Thailand.

But Apple (AAPL.O) still makes major products in China.

Samsung’s share of the Chinese market shrank to 1% in the first quarter from around 15% in mid-2013, as it lost out to fast-growing homegrown brands such as Huawei Technologies and Xiaomi Corp (1810.HK), according to market research firm Counterpoint.
“In China, people buy low-priced smartphones from domestic brands and high-end phones from Apple or Huawei. Samsung has little hope there to revive its share,” said Park Sung-soon, an analyst at Cape Investment & Securities.

Samsung, the world’s top smartphone maker, said it had taken the difficult decision in a bid to boost efficiency. It added it would however continue sales in China

“The production equipment will be re-allocated to other global manufacturing sites, depending on our global production strategy based on market needs,” it said in a statement, without elaborating.

Samsung declined to specify the Huizhou plant’s capacity or its numbers of staff. The factory was built in 1992, according to the company.
https://www.reuters.com/article/us-samsung-elec-china-idUSKBN1WH0LR?utm_source=reddit.com

It's simply called...
Cutting ur loses

no making your own bed

This is America's plan all along.

The competition in China is just way too much

China beg Una?
Pack your load and go and fade like Nokia

Elimon:
China beg Una? Pack your load and go and fade like Nokia

Awon team Tecno

tolexy007:



Awon team Tecno

I don't like techno or use it as well...sorry

seunfly:
This is America's plan all along.

Are you sure you read the ÒP? Samsung's market share is down to 1% in China, do you expect them to continue to run at loss?


All you these Amelika asslickers sef

hardeycute:
Are you sure you read the ÒP? Samsung's market share is down to 1% in China, do you expect them to continue to run at loss?


All you these Amelika asslickers sef

You think u will get majority of the truth from official statements of any corporation?

You needs to know the game plan since Trump took over, the plan was to dismantled Chinese manufacturing prowess and bring it back to America, but since it couldnt be done because of cost, other asian countries were presented as option Vietnam, thailand, Indonesia, Bangalore etc with India as the main target but it was very difficult to shift it because China has the infrastructure, supply chains ( in a phone manucturing hub there is gorrila glass plant, microchips manufacturing plant, screen manufacturing plant, poly plastic fiber plant, camera sensor plant etc at the same hub in the same area), enormous cheap but technical labour( China can assemble 100,000 certified electronic engineers in Iphone factory within a week to mass produce the phone that will be released in 2 months time), political stability etc. This are what other alternative countries lacks and has been the stumbling block to the dismantling of China's manufacturing capacity. Luckily Chinese government has seen it coming since early 2000s, there has been debate on how to cripple China but America had alot on it plates and China was put on hold until Trump came in, so Chinese government has been diversifying Chinese economy from low yields manufacturing to high grade scientific invention such as telecominication (5G) microchips, Softwares, Robotics, Automobile, aeronautics etc. This are area reserved for America but Chinese are trying to move up to such ladder.

You need to realise that the Chinese plan was to move those manufacturing stuff to Africa Nigeria, Ethopia, Kenya, Zimbabwe, Ghana etc are Chinese target and that is one of the reason why Africa was included in new silk road.

seunfly:


.

America's plan is Samsung losing customers in China and slightly in India too? https://www.financialexpress.com/industry/technology/samsung-logs-lowest-market-share-in-4-years-loses-no-2-slot-to-chinas-vivo/1835179/

I know about Tech Companies moving some of their production out of China to Vietnam, HK, etc but this one is more of economic scale than Trade war or whatever.

BBK and Xiaomi are offering more value at lower prices

hardeycute:
America's plan is Samsung losing customers in China and slightly in India too? https://www.financialexpress.com/industry/technology/samsung-logs-lowest-market-share-in-4-years-loses-no-2-slot-to-chinas-vivo/1835179/

I know about Tech Companies moving some of their production out of China to Vietnam, HK, etc but this one is more of economic scale than Trade war or whatever.

BBK and Xiaomi are offering more value at lower prices

Are u telling me all the manufacturing plants in China are sighted in China because of Chinese market?

Are u telling me Samsung has more market in the country they are moving to than china or any other country?


You needs to know most plant in China are there to serve the western markets with cheap goods, as average Chinese becomes rich due to this move, they form markets as well.

What I'm saying is they need an explanation to move and they v got a cover explanation but the Chinese leaders and other world leaders are not fools.

Immediately Corona hits China, Trump quickly visited India and they talk about creating alternative to China.

Last month Japan offers huge money for any Japanese company that want to relocate from China and less than a month later some korean companies announced moving out. Do u think it is coincidence? What do u think those countries have in common?
It takes huge effort to setup plants, supply chains and trained workers to just move a factory where you produce more than 50% of your global supply because the market is shrinking in that country. They were in that country when the same country had no market at all, so why move when they had 1% market ( dont forget 1% market in China is more than 30% market is Vietnam, Thailand etc)

You need to know the grand scheme going on under the radar and the diplomatic armtwisting going under the radar.