Samsung Says to Discontinue China Sales of some Consumer Electronics Products
Samsung said its mobile, chip and medical equipment businesses will remain in China as TV and appliance losses reached 200 billion won last year.
- Samsung Electronics announced on Wednesday it will end home appliance and TV sales in mainland China, retreating from a consumer market increasingly dominated by domestic rivals.
- Mounting pressure and losses in the appliance sector prompted this decision, as Samsung pivots resources toward its highly profitable semiconductor operations.
- After-Sales services will continue as normal for existing customers, though Samsung plans to maintain its presence in the Chinese market through mobile phone and chip sales.
- Samsung's TV and home appliance businesses posted losses of 200 billion won last year, while smartphone market share in China fell to less than 1 per cent.
- Driven by the global artificial intelligence boom, Samsung's semiconductor earnings soared recently, pushing market capitalization to a record high of 1,710.8 trillion won on Wednesday.
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The company's market share in China's consumer electronics sector fell significantly, according to Chinese state media
Cell phones will continue to be sold by Samsung in China, but the company will stop selling TVs, air conditioning, refrigerators and washing machines due to competition in the market.
Samsung to halt home appliance sales in China, exiting retail market · TechNode
Samsung Electronics said Wednesday it will stop selling home appliances in mainland China, marking the company’s full exit from the country’s consumer appliance retail market amid shifting market conditions. The South Korean tech giant said the decision takes effect immediately and applies to all appliance categories, including televisions, monitors, refrigerators and washing machines. Its smartphone business in China will continue operating as …
Samsung says to discontinue China sales of some consumer electronics products
Samsung Electronics , a maker of TVs and home appliances, said on Wednesday that it has decided to discontinue sales of some consumer electronics products in mainland China amid intensifying competition in the local market.Read MoreThe post Samsung says to discontinue China sales of some consumer electronics products first appeared on The Who Dat Daily.The post Samsung says to discontinue China sales of some consumer electronics products appea…
Samsung Electronics Officially Announces Suspension of Home Appliance and TV Sales in China Samsung Electronics has officially announced the withdrawal of certain businesses from China, including the suspension of sales of home appliances and TVs. Last year, the net profit of Samsung Electronics' Chinese sales subsidiary was 168.1 billion won, a 44% drop from 300.7 billion won the previous year. According to industry sources on the 7th, Samsung …
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