Samsung Shuts Its Last Phone Production Plant in China

BUSINESS TURKMENISTAN
Samsung Shuts Its Last Phone Production Plant in China
Samsung got 30% of its 2018 revenue from electronics produced in its 4 production plants in Vietnam.

Samsung Electronics said Friday it has ended the production of smartphones in its last factory in China, Associated Press reports.

Production at the factory in southern China’s Huizhou ended last month, the company said in an email on Friday.

The rise of competitors like Huawei and Xiaomi resulted in the major decrease of Samsung’s market share in China.

The South Korean company has moved a large share of its smartphone production to Vietnam and had closed a factory in northeastern China’s Tianjin last year.

“The production equipment will be re-allocated to other global manufacturing sites depending on our global production strategy based on market needs,” Samsung said in the letter.

Samsung got 30% of its 2018 revenue from electronics produced in its 4 production plants in Vietnam. This revenue, which is $65.7 billion, accounts for 28 percent of Vietnam’s total exports.