Samsung Electronics to withdraw home appliances from China this year, claims report

Samsung has recently announced it will withdraw its home appliances and TV sales from China this year.

The South Korean multinational manufacturing conglomerate company will withdraw the sale of its home appliances and TV sales business from China ‌within this year, the Nikkei newspaper reported on Monday.

Samsung aims to make a final decision on discontinuing sales of home appliances and televisions in China as early as the end of April, Nikkei said, citing unnamed sources.

The world's leading electronics company said that it will retain its local production in China for home appliances such as refrigerators, washing machines, and air conditioners, using the facilities as supply hubs for overseas markets, the report said.

Nikkei said the biggest reason for the withdrawal ‌is declining price competitiveness, adding that Chinese manufacturers, in addition to offering low product prices, have improved quality and are strengthening their presence in global markets.

Samsung Electronics said in a statement that it regularly reviews its global business structure in line with changes in the operating environment, adding that nothing has been decided regarding market speculation about a potential restructuring of its operations in China.