Facing competition from homegrown brands such as Huawei and Xiaomi, South Korean tech giant Samsung has stopped manufacturing mobile phones in China
) 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 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. “In China, people buy low-priced smartphones from domestic brands and high-end phones from Apple or Huawei. Samsung has little hope there to revive its share,” said Park Sung-soon, an analyst at Cape Investment & Securities.
“The production equipment will be re-allocated to other global manufacturing sites, depending on our global production strategy based on market needs,” it said in a statement, without elaborating.
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