Samsung to relocate parts of TV production to Vietnam: media
Samsung to relocate parts of TV production to Vietnam: media
Samsung Electronics will move parts of the company'sTV production to Vietnam and some other countries after shutting down its only TV factory in China in late November.
Samsung’s sole TV factory in Tianjin, China is scheduled to be closed at the end of November, as part of a greater trend of businesses shifting supply chains away from China,Nikkei Asian Reviewquoted the South Korean electronics companyas saying.
Following the shutdown, Samsung will shift its TV production to Vietnam, Mexico, Hungry, Egypt, and some other locations.
The company has been losing market share in China due to rising competition from local brands as well as boycotts triggered by Seoul’s decision in 2016 to deploy a U.S.-developed missile shield despite Beijing’s objections,Nikkei Asian Reviewstated.
In addition, labor cost has also been rising rapidly in China.
Samsung’s TV factory in Tianjin, which opened in 1993, currently has approximately 300 employees following multiple staff cuts.
In late 2019, Samsung shutteredits smartphone factories in Tianjin and the southern Chinese city of Huizhou.
The firmed announced in June that it would cease production at a computer factory in Suzhou.
Samsung still operates a household appliance plantin Suzhou and two chip factories in Xi'an.
