According to news agency Reuters, Samsung has decided to stop production of its mobile phones.
Why
One of the main reasons for this decision islow demand for devices from the Korean manufacturer and strong competition from local companies. According to the latest research, Samsung's share of China's smartphone market has dropped to 1% due to Xiaomi and Huawei. For comparison, in 2013 this figure was 13%.
Despite this decision, the company will continue to sell its devices in the Middle Kingdom. It’s just that now their production will be transferred to India and Vietnam.
Let us remind you that Samsung is still the leader in the global smartphone market. This year, Huawei tried to get ahead of it, but due to US sanctions, the Chinese manufacturer has not yet succeeded.