Samsung shuts its production unit from china

Samsung, one of the biggest mobile manufacturers in the economy recently dropped the news that the company has ended mobile telephone production in china. The shutdown of Samsung’s last china phone factory comes when the company got miffed by facing intensifying competition from domestic rivals on the world’s biggest smartphone market. This, in turn, happened because of the rising labor costs and economic slowdown. And the similar news arising in the market of Sony shutting down its plant in Beijing because of the certain similar reasons. The gadget market in china has always been on the top and China is the biggest manufacturing base of all the gadgets and electronics. This giant tech company will continue to do sales in China but the operations & manufacturing are definitely not going to take place in the nearby future. An efficient move take by the company is to shut the manufacturing in the countries with high labor cost and manufacturing costs & to expand smartphone production in lower-cost countries like India and Vietnam. In china, people tend to buy low priced products from the country’s domestic brands and the premium segment in China buys high-end mobile phones from the brands like Apple. Thus, Samsung remains with very average number of sales. To boost the production by saving the cost, Samsung chooses a strategy to diversify the operations in the areas with less costs and less competition. The elimination of Samsung will definitely affect the electronic segment but from the point of view of competitors, their profits will be increased.

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Shreyas Tanna

Shreyas Tanna

The winner of the title Mr. Pune 2009, Mr. Shreyas Tanna is currently the young, dashing, and dynamic CEO of a market research company called ResearchNReports in Pune. Fondly known as RNR, the company specializes in market research as well as industry analysis, and is closely associated with its parent company Absolute Market Insights (AMI). Mr. Shreyas Tanna began his corporate journey as the Head of Corporate sales & PR at RED Entertainment while pursuing his degree for MMS (Marketing) from the MGM College of Management, Mumbai. After accomplishing the tedious task of balancing his work and education, he further polished his skills in Corporate Sales, Public Relations, Channel Development, Global Client Engagement, Strategic Consulting, and Brand Development by working with HDFC Life and Researchmoz Global Pvt. Ltd. His dedication towards his work has even won him accolades such as the National Level Performer 2013 – HDFC Life and Mr. Research Moz 2015. A disciplined individual with a loving heart, he is often seen taking crisp walks with an engrossed look and a gentle smile within the premises of his company to interact with the various departments. And he will be usually followed by an adorable trail of his beloved trio of Shih Tzu babies proudly known as Gucci, Drake, and Paris. The most enticing thing that you will notice about this content and proud pet parent is his infectious positivity and the firm belief in his eyes, a reflection of his favorite quote, “LIFE IS BEAUTIFUL!”