Reports suggest that the stakes are being sold to TCL Technology Group Corp’s Star Optoelectronics Technology unit.
(Photo: iStock)
Samsung Electronics Co. has reportedly decided to close its only TV manufacturing plant in Tianjin, China as the company aims to boost efficiency in its production facilities.
The South Korean tech giant plans to shut the said TV factory by the end of November, a Reuters report said on Monday, which cited company’s spokesman.
The factory has around 300 workers, Yonhap news agency reported earlier. However, the company itself has not clarified the number of people working at the factory.
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The Reuters report quoted the spokesman as saying that the decision is part of company’s “ongoing efforts to enhance efficiency” at its production facilities worldwide amid continuously rising competition levels.
The latest announcement comes a week after the tech giant announced that its display unit is selling majority stake in its Suzhou liquid crystal display (LCD) production unit. Reports suggest that the stakes are being sold to TCL Technology Group Corp’s Star Optoelectronics Technology unit.
It is worth mentioning that the company has been in a process of shutting down its manufacturing facilities in China in recent years.
In 2018, Samsung closed its smartphone factory, Yonhap report said. In 2019 the company closed another plant based in Huizhou, China.
Earlier this year, the company said it will put halt at its PC plant based in Suzhou, Yonhap report added.
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