+1-888-308-5802     
News Contact Us

Samsung considers halting smartphone facility operations in China

Author : Saif Ali Bepari | Published Date : 2018-08-13 

Samsung Electronics Co Ltd, the leading manufacturer and distributer of electronic products has reportedly made plans to suspend its operations at its mobile phone manufacturing plants in China. As per sources, the decision may have come on the heels of the company’s rising labor cost and slumping sales.

An official statement claims that Samsung, in all probability, may stop its smartphone production operations at the Tianjin Samsung Telecom Technology located in the northern Chinese city of Tianjin, South Korea this year.

Reportedly the company claimed in a statement to the CNBC, that the overall global smartphone market is currently struggling due to a slow growth in smartphone sales. However, with regards to the Tianjin plant, the South Korean smartphone maker stated that the fate of its Tianjin operation has not yet been decided.

As per reports, Samsung had a 20% share in the China market merely half a decade earlier, which fell by nearly one percent this year, plausibly due to the arrival of new players like Xiaomi, Huawei and other Chinese brands.

Apparently, Samsung Electronics Co Ltd is under pressure to kickstart its smartphone sales after encountering its slowest quarterly profit growth on account of rival players that are attracting customers with smartphones deemed to be cheaper and loaded with features similar to premium smartphones.

For the record, Samsung has invested a huge chuck of capital in its Vietnam and Indian production facilities. Sources cite that the company has recently opened the world’s biggest smartphone factory situated outside New Delhi, which aims to become a major export hub.

According to reliable reports, Samsung’s Tianjin plant produces 36 million smartphones a year, whereas the company’s second phone manufacturing plant in Huizhou manufactures 72 million units a year. The company’s two plants in located in Vietnam, combinedly account for about 240 million units annually.

About Author

Saif Ali Bepari

Saif Ali Bepari

A qualified Computer Science graduate, Saif Ali Bepari, armed with more of an inclination toward writing than coding, commenced his journey in the content industry as a freelancer. Currently penning down content for fractovia.org and a couple of other portals, Saif has also tinkered with creative writing, technical writing, blog writing, and copywriting. He can be contacted at- [email protected] | https://twitter.com/Saif_B17

Related News

Xiaomi confirms the launch of Mi Pay service in India following trials

Published Date: 2019-03-20         Author: Saif Ali Bepari

Xiaomi has recently confirmed the official launch of its Mi Pay payment service for the Indian market. The company had introduced Mi Pay in China as well in 2016 and followed that with the launch of a beta trial in India. After completing the final testing now, Indian users get the complete access t... Read More

Deutsche Bank to reportedly begin formal merger talks with Commerzbank

Published Date: 2019-03-19         Author: Saif Ali Bepari

Deutsche Bank, Europe’s prominent financial institution, is apparently set to announce merger talks with Commerzbank. It has been reported that the two largest banks in Germany are gaining pace and the planned formal disclosure of talks between them has increased the probability of a successfu... Read More

Safaricom & AliExpress to enable M-PESA for online shoppers in Kenya

Published Date: 2019-03-14         Author: Saif Ali Bepari

Kenya’s biggest mobile operator Safaricom Plc has reportedly agreed to a partnership with a division of the Alibaba Group Holdings Ltd in a bid to advance electronic payments.  As per trusted sources, the deal allows Safaricom’s customers to use its mobile-money service called M-... Read More

© 2019 Fractovia. All Rights Reserved