Samsung cutting its phone production in China
Samsung is reducing the output of its only smartphone factory in Huizhou, China, less than 12 months after closing its other plant in Tianjin. According to Reuters, the reason is that market share has shrunk from over 20% to less than 1% in the span of five years while being squeezed by domestic players.
Although sales of Samsung smartphones have been less than impressive in the past few years, Q1 2019 brought a 40% sequential increase in number of units sold. Still, either that not enough or Samsung believes it can still make enough units after the cuts.
The financial magazine…