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SAMSUNG ELECTRONICS (005930.KS) Confirms Decision to Halt Sales of Certain Consumer Electronics Products in China
SAMSUNG ELECTRONICS (005930.KS) of S Korea stated that, in light of intense market competition, it has decided to stop selling certain consumer electronics products in China. Earli...
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SAMSUNG ELECTRONICS (005930.KS) of S Korea stated that, in light of intense market competition, it has decided to stop selling certain consumer electronics products in China. Earlier, S Korean media reported that SAMSUNG ELECTRONICS would withdraw from television and home appliance sales in China.

In a statement, SAMSUNG ELECTRONICS said it will strive to minimize any impact of the decision on customers and is reviewing various support measures for business partners.

Related News Citi Raises S Korea's Econ Growth Forecast to 2.9%, Lifts KOSPI TP to 8,500
Amid competition and US tariffs, SAMSUNG ELECTRONICS' television and home appliance business recorded a loss of 200 billion South Korean won last year (equivalent to nearly USD140 million). The company announced on Monday (4th) that it has replaced the head of its television business, the first such change in more than two years.

Market sources expect SAMSUNG ELECTRONICS to continue selling smartphones and chips in China. (fc/da)

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