Samsung Electronics to close down smartphone plant in China this year
- 5 years ago
Samsung Electronics will close down one of its smartphone plants in China at the end of this year,... amid slumping local sales and growing overhead costs.
The tech giant released a statement saying.... it would cease operations at its Tianjin factory as part of "efforts to enhance efficiency,".... and will offer compensation for workers.... as well as opportunities to move to other Samsung facilities.
The factory employs around 26-hundred workers,... and produces an estimated 36 million phones a year.
The decision to shut down the plant comes after Samsung's share of the Chinese market fell below one percent this year,... losing out to local budget smartphone makers such as Huawei.
Samsung says... it will keep on running its other Chinese phone plant in the southern province of Guangdong.
The tech giant released a statement saying.... it would cease operations at its Tianjin factory as part of "efforts to enhance efficiency,".... and will offer compensation for workers.... as well as opportunities to move to other Samsung facilities.
The factory employs around 26-hundred workers,... and produces an estimated 36 million phones a year.
The decision to shut down the plant comes after Samsung's share of the Chinese market fell below one percent this year,... losing out to local budget smartphone makers such as Huawei.
Samsung says... it will keep on running its other Chinese phone plant in the southern province of Guangdong.