Samsung admits defeat in China's vast smartphone market

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Samsung has stopped making smartphones in China, the world's largest market for the devices. The company has shut down its last smartphone factory in the country's southern city of Huizhou as costs rise for manufacturers in China.

Hong Kong Just a few years ago, one in every five smartphones sold in China was made by Samsung. How times have changed.

The smartphone maker said this week it was shutting down its last phone factory in the country in the southern city of Huizhou. Its share of the vast Chinese market has collapsed and labor costs have risen. The world's largest smartphone maker is now setting its sights on more promising markets.

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