Samsung to halt production at its last computer factory in China

Samsung to halt production at its last computer factory in China
Author: 
Reuters
ID: 
1596267530741381900
Sat, 2020-08-01 07:35

SEOUL: Samsung Electronics will halt operations of its last computer factory in China, the South Korean tech giant said on Saturday, the latest manufacturer to shift production from the world’s second-biggest economy.
Companies are rethinking their production and supply chains amid rising Chinese labor costs, a US-China trade war and the blow from the COVID-19 pandemic.
Around half the 1,700 employees on contract at Samsung Electronics Suzhou Computer will be affected, excluding those involved in research and development, the South China Morning Post reported on Friday, citing a notice to Samsung staff.
The factory shipped $4.3 billion worth of goods out of China in 2012, a figure that had sunk to $1 billion by 2018, the Hong Kong newspaper said.
A Samsung spokeswoman declined to comment on the factory’s revenue and shipments, or details regarding employees.
“China remains an important market for Samsung and we will continue to provide superior products and services for Chinese consumers,” the company said in a statement.
Samsung shut its last smartphone factory in China last year. Its remaining facilities include two semiconductor manufacturing sites in Suzhou and Xi’an.

Main category: 
Business & Economy
Tags: 
Samsung
China

Samsung ends smartphone phone production in ChinaSamsung: Smartphone demand to drive second half earnings

Want to know more on Samsung to halt production at its last computer factory in China click here go to market news source.
Market news summary from Arab Market News.
Author: rbksa

Follow us get Market News Update

Close

Market News Language


Copyright All rights reserved – NonSell.com