FILE PHOTO – The Samsung logo is seen in Seoul, South Korea, March 23, 2018. REUTERS/Kim Hong-Ji/File Photo
August 13, 2018
SEOUL (Reuters) – Samsung Electronics Co Ltd <005930.KS> is considering suspending operations at one of its mobile phone manufacturing plants in China due to slumping sales and rising labor costs, the Electronic Times reported on Monday.
Samsung might stop producing mobile phones this year at Tianjin Samsung Telecom Technology, its Chinese mobile phone manufacturing base in Tianjin, the South Korean newspaper said.
Samsung said on Monday that nothing had been decided on the fate of its Tianjin operation.
“The overall smartphone market is having difficulties due to slowing growth. Samsung Electronics’ Tianjin telecom enterprise aims to focus on activities that increase competitiveness and efficiency,” it said in a statement to Reuters.
In China, the world’s biggest smartphone market, Samsung’s market share is around 1 percent, while Chinese brands such as Huawei are dominant players.
(Reporting by Ju-min Park; Editing by Edwina Gibbs)