Samsung Electronics is going to shut down a mobile phone manufacturing plant in Tianjin, China.

TechBD24


South Korean company has decided to reduce Samsung's sales in the world's biggest market due to local rivals.

Smartphone manufacturers have sold a smartphone at a relatively low cost to Chinese local companies, the demand has reduced the demand of Samsung phones. In the first quarter of this year, Samsung was holding one percent of the Chinese smartphone market, where in the middle of 2013, the company had 15 percent. Companies like Huawei have lost the market, the company has lost the market.

According to a statement in Samsung, "Samsung Electronics has come to a hard conclusion that the activities of Tianjin Samsung Electronics Telecommunication are being discontinued in our ongoing efforts to make our factories more productive."

Samsung's current factory workers number 2600 .The factory is closed at the end of this year.

The South Korean firm has told to provide factory workers compensation and other job opportunities in another Samsung factory.

Samsung has produced 3.6 million smartphones annually in the Tianjin factory. On the other hand, the HuiZhu factory is producing a million million smartphones annually. And the company has produced 24 million smartphones a year in two factories in Vietnam.