Baku, October 4, AZERTAC
South Korean tech giant Samsung, one of the leading smartphone producers in the world, has reportedly closed its last mobile phone factory in China after losing market share in the country amid the fierce business competition from domestic rivals, according to Chinese newspaper Global Times.
Samsung will continue sales in China after it ended smartphone production in China, which was a difficult decision, in a bid to boost efficiency, Reuters quoted Samsung as saying on Wednesday.
The factory Samsung closed was located in Huizhou, South China's Guangdong Province, its third and last mobile phone factory in China, according to media reports, and the other two in Shenzhen, Guangdong Province and North China's Tianjin were either closed or suspended last year.
According to Counterpoint, a global industry analysis company, Samsung's market share in China, the world's largest smartphone market, has dropped to about one percent in the past two years behind several Chinese brands and Apple.
Chinese smartphone maker Huawei held a 36 percent market share in China in the second quarter of 2019, followed by Chinese brand Vivo's 19 percent and Oppo's 19 percent. Apple took 6 percent, down 3 percent from the first quarter, Counterpoint said.
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