Samsung ends mobile phone production in China

Investing.com | 10/2/2019 | Staff
adele2234 (Posted by) Level 3
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SEOUL (Reuters) - Samsung Electronics Co Ltd (KS:005930) 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.

Tech - Giant - Phone - Production - China

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.

Apple - O - AAPL - Products - China

But Apple (O:AAPL) 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...
(Excerpt) Read more at: Investing.com
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