Samsung makes an Exit to TV manufacturing in China
The fact that the South Korean giants plan to move all their TV manufacturing in China to alternative countries, favorably Vietnam by the end of this year, has been mentioned before. Now, it seems even before the year comes to an end, Samsung is already planning to shift its last TV manufacturing factory in Tianjin, China.
This would certainly have little effect on the global supply of the electronics giant, as it has alternative factories in Vietnam, Mexico, Hungary, Egypt and elsewhere. As per the Nikkei Asian Analysis report, Samsung will be moving its outputs to other countries.
So, Samsung will be shutting down its TV operations in Tianjin by the end of November which had been operating for over a decade now. The TV manufacturing plant there operated since 1993 and right now it had about 300 employees. The South Korean giant will also help the employees to reassign its employees to other facilities or even help them find new jobs.
Now, if you ask the reasons for shutting down such an old TV manufacturing plant then you have to know Samsung is planning long-term. Already China is facing trade issues and import/export bans, on top of that, the country’s labor costs have increased significantly. Not just this, Samsung is facing stiff competition by domestic rivals have that has lead Samsung to lose the TV market share in China.
Samsung has a lot of potential globally so, they will be focusing on that, especially in the Western market. It had even shut down its smartphone manufacturing plant in Tianjin two years ago and the Suzhou PC plant. The South Korean giant wants to cut off its dependency on Chinese supply chains and want to expand in other potential countries and invest there, India is one of them.