South Korean company "Samsung" plans to completely cease sales of televisions and household appliances in the Chinese market by the end of this year. This was reported by Nikkei, citing its sources. Ixbt.com also reports on this.
The company's management is expected to make a final decision on this issue at the end of April.
This decision does not mean the complete withdrawal of the "Samsung" brand from China. The company will maintain its factories in the country that produce refrigerators, washing machines, and air conditioners.
However, these facilities will now serve exclusively for export to other countries rather than for the domestic market.
According to experts, this step was prompted by intense competition in the Chinese market. "Xiaomi", "TCL" and other local brands have significantly improved product quality while offering much lower prices.
As a result, the price competitiveness of "Samsung" products has declined.
"Samsung" representatives have so far limited their comments to stating that the global business structure is regularly reviewed. The company announced that a formal conclusion regarding the restructuring of operations in China has not yet been reached.
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