Samsung Electronics to cut China phone output as market share sinks

  • 📰 Reuters
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Samsung Electronics to cut the volume of mobile phone production at its plant in the Chinese city of Huizhou due to the impact of intensifying competition in the country via HeekyongYang

The logo of Samsung Electronics is pictured at the company's factory in Tijuana, Mexico, June 1, 2019. REUTERS/Jorge Duenes

The output reduction at the factory in the southern city of Huizhou comes just six months after Samsung said it would close its only other handset plant in China, in the northeastern city of Tianjin, in a move it said would enhance efficiency. In the three months of 2019, however, Samsung’s smartphone sales volume in China rose 40% versus the previous three months, helped strong promotion of premium models and cheaper mass-market handsets, showed an April report from Counterpoint Research.

Samsung declined to detail the plant’s capacity, staff numbers or degree of production cut when contacted by Reuters.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market up strongly on rate-cut hopes, optimism over tradeU.S. stocks on Tuesday climb on expectations that the Federal Reserve will cut interest rates.
Source: MarketWatch - 🏆 3. / 97 Read more »

China wants domestically made baby formula to supply 60% of marketChina aims to increase local production of baby formula so that more than 60% of... Their find a way to fake it like they do everything else. Tramps just kidding I'm sure nothing can go wrong with this:
Source: Reuters - 🏆 2. / 97 Read more »

Portugal becomes the first euro zone country to issue debt on China's marketKnown as 'Panda' bonds, that's yuan-denominated debt issued by a foreign sovereign issuer, the sale will take place Wednesday and Thursday.
Source: CNBC - 🏆 12. / 72 Read more »