Samsung Electronics to Stop Production at it’s most recent Plant in China
Samsung Electronics will close its last computer plant in China, the South Korean tech giant, the latest manufacturer to shift production from the world’s second-largest economy, said on Saturday.
Companies plan to rebuild their production and supply chains amid rising labor costs in China, the US-China trade war and the COVID-19 pandemic.
About half of Samsung Electronics Suzhou Computer’s 1,700 employees, excluding R&D employees, the South China Morning Post said on Friday, citing an announcement from Samsung staff.
The factory shipped $ 4.3 billion worth of goods from China in 2012, which had fallen to $ 1 billion in 2018, the Hong Kong newspaper said.
A Samsung spokesperson declined to comment on the plant’s revenue and shipments or employee information.
“China is an important market for Samsung and we will continue to provide better products and services to Chinese consumers,” the company said in a statement.
Samsung closed its last smartphone factory in China last year. Its remaining facilities include two semiconductor manufacturing sites in Suzhou and Xi’an.
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