|SPECS & Features|
Samsung has closed its last factory in China â€“ production at the facility in HuizhouÂ was slashedÂ a few months ago and has nowÂ reported that the factory has been completely shut down.
In 2017 the Huizhou factory made 64 million phones, a significant fraction of Samsungâ€™s global output of 394 million. In 2011, this factory made 70 million phones while the one in Tianjin produced 56 million (the Tianjin facilityÂ was closedÂ late last year).
This doesnâ€™t mean that Samsung is pulling out of China, it will continue selling phones there. However, the stiff competition from local brands means that itâ€™s no longer economically viable to make its phones there.
Its market share has shrunk to 1% as Chinese consumers turn to local brands for affordable devices and to Huawei and Apple for premium models, according to Park Sung-soon, an analyst at Cape Investment & Securities.
(Visited 10 times, 1 visits today)
Samsung plans to close its production plant in China