Continuous slump sales is putting electronic giant, Samsun in a dicey situation as the mobile phone manufacturer is considering a potential withdrawal from China.
Though, Samsung said on Monday that nothing had been decided on the fate of its Tianjin operation.
“The overall smartphone market is having difficulties due to slowing growth. Samsung Electronics’ Tianjin telecom enterprise aims to focus on activities that increase competitiveness and efficiency,” it said in a statement to Reuters.
Just five years ago, Samsung had 20 percent of the Chinese market only to see that fall to less than 1 percent this year, outgunned by Huawei , Xiaomi (1810.HK) and other Chinese brands, particularly on pricing.