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Samsung cuts smartphone production in China, competition bites
- Thursday | 6th June, 2019
SEOUL/SHANGHAI (Reuters) – South Korea’s Samsung Electronics Co Ltd said on Wednesday it plans to cut production at a smartphone plant in China, as competition from domestic rivals squeezes its share of the world’s biggest smartphone market to less than a paltry 1%. Samsung, the world’s biggest smartphone maker, has seen its share of China’s market shrink from about 20% in 2013, showed data from Strategy Analytics. Samsung declined to detail the plant’s capacity, staff numbers or degree of production cut when contacted by Reuters. A spokesman in China told Reuters there would be “some adjustment to production volume and staff” based on the market situation. The smartphone maker’s share price was 1.0% higher in afternoon trade in Seoul.
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