SAMSUNG Electronics has announced it will shut down one of its smartphone plants in Tianjin as it continues to lose market share to domestic rivals, Reuters reports
SAMSUNG Electronics has announced it will shut down one of its smartphone plants in Tianjin as it continues to lose market share to domestic rivals, Reuters reports. Samsung's market share in China's smartphone market fell to just one per cent in the first quarter, with Chinese brands like Huawei offering high-spec alternatives at a lower cost.
The factory employs 2,600 people. It will be shuttered before the end of the year. Samsung's other major Chinese facility, in Huizhou, Guangdong province, will remain open for now.
Samsung has been shifting an increasing share of production to lower-cost markets like Vietnam and India recently, and will likely focus on these markets more following the closure of the Tianjin plant.
WORLD SHIPPING
