• Wednesday, August 12, 2020

Samsung to halt production at its last computer factory in China

Discussion in 'China & Far East' started by INDIAPOSITIVE, Aug 1, 2020.

  1. INDIAPOSITIVE

    INDIAPOSITIVE SENIOR MEMBER

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    SEOUL (Reuters) - Samsung Electronics Co will halt operations of its last computer factory in China, the South Korean tech giant said on Saturday, the latest manufacturer to shift production from the world’s second-biggest economy.

    Companies are rethinking their production and supply chains amid rising Chinese labour costs, a U.S.-China trade war and the blow from the COVID-19 pandemic.

    Around half the 1,700 employees on contract at Samsung Electronics Suzhou Computer will be affected, excluding those involved in research and development, the South China Morning Post reported on Friday, citing a notice to Samsung staff.

    The factory shipped $4.3 billion worth of goods out of China in 2012, a figure that had sunk to $1 billion by 2018, the Hong Kong newspaper said.

    A Samsung spokeswoman declined to comment on the factory’s revenue and shipments, or details regarding employees.

    “China remains an important market for Samsung and we will continue to provide superior products and services for Chinese consumers,” the company said in a statement.

    Samsung shut its last smartphone factory in China last year. Its remaining facilities include two semiconductor manufacturing sites in Suzhou and Xi’an.


    https://www.reuters.com/article/us-...-last-computer-factory-in-china-idUSKBN24X3K4
     
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  2. TruthSeeker

    TruthSeeker PDF THINK TANK: ANALYST

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    Great news. Anyplace except China. Vietnam! Mexico! Japan! Korea! Brazil! There are so many choices that would be better for world peace than China. I hope all corporations in democratic countries will stop investing in China.
     
    Last edited: Aug 1, 2020
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  3. mmr

    mmr FULL MEMBER

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    Vietnam is the new hub for Samsung. They are investing heavily there.
     
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  4. cochine

    cochine FULL MEMBER

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    PM Nguyen Xuan Phuc hosts Korean investors in Vietnam
    Chia sẻ | FaceBookTwitterInterested0
    30/07/2020 10:42 GMT+7
    Prime Minister Nguyen Xuan Phuc hosted a reception on July 29 in Hanoi for groups and businesses from the Republic of Korea (RoK) that are investing in Vietnam.

    [​IMG]
    Prime Minister Nguyen Xuan Phuc (front, centre) hosts businesspeople from the Republic of Korea

    He affirmed that the Vietnamese Government supports and creates the best possible conditions for domestic and foreign investors, including those from the RoK, to expand their operations.

    Vietnam recorded positive growth in the first half of 2020 despite the impact of COVID-19, thanks to the efforts of the Government, ministries, localities, the business community, and the people, he said.

    Vietnam’s engagement in free trade agreements is a solid premise for RoK enterprises to make long-term investment in the country, he added.

    The Vietnamese Government is willing to receive constructive opinions from RoK investors to further improve the local business environment, he affirmed.

    RoK Ambassador to Vietnam Park Noh Wan spoke highly of the management and direction of the Vietnamese Government and the Prime Minister as well as the solidarity of the Vietnamese people in the fight against COVID-19.


    He suggested measures to boost the two countries’ relations, particular increasing exchanges, while ensuring disease prevention measures are in place and followed.

    The ambassador said he and RoK businesses will spare no effort to contribute to Vietnam’s economy.

    RoK groups and enterprises at the meeting hailed the efforts of the Vietnamese Government in preventing the spread of COVID-19 as well as the country’s socio-economic development achievements in recent years.

    PM Phuc affirmed that the Vietnamese Government will continue accompanying businesses and spare no efforts to further improve the investment climate to make it more stable, friendly, open, and transparent.

    He said Vietnam wants to attract more investors from the RoK with high-quality projects applying advanced technologies in the future.

    Vietnam encourages the two sides' businesses to expand cooperation activities such as conducting research and developing production, he added./. VNA
     
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  5. Viet

    Viet ELITE MEMBER

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    China exports manufacturing has no future.
    All will go to Vietnam, Asean, India and Bangladesh.
     
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  6. not_two

    not_two FULL MEMBER

    New Recruit

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    Why ?
     
  7. Vikram1

    Vikram1 BANNED

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    Because of its bully behavior.
    They are bullying all of SCS nations with its military.
     
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  8. not_two

    not_two FULL MEMBER

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    But business is business ..supply and demand ..
     
  9. cochine

    cochine FULL MEMBER

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    free market economy is control by policy. simply for tax.
     
  10. mmr

    mmr FULL MEMBER

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    Lol it will mostly go to Vietnam.

    80 percent vietnam...20 percent left over will go to others :lol:
     
  11. 大汉奸柳传志

    大汉奸柳传志 SENIOR MEMBER

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    first time I hear sumsung makes computers
     
  12. FairAndUnbiased

    FairAndUnbiased SENIOR MEMBER

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    Cry harder. Samsung moving low value manufacturing away and bringing in high tech high value.

    https://www.anandtech.com/show/1524...a media report,120,000 wafer starts per month.
     
  13. Kai Liu

    Kai Liu SENIOR MEMBER

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  14. Kai Liu

    Kai Liu SENIOR MEMBER

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    You are talking about making shoes and socks... No future indeed...
     
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