SOURCE / INDUSTRIES
Samsung China layoffs to boost 5G business growth
Published: Nov 04, 2019 07:28 PM

Consumers browse devices at a Samsung store in Shanghai in March. Photo: VCG



Samsung Electronics Co confirmed it was planning layoffs in the Chinese market on Monday, saying its business adjustment is aimed at boosting growth in the 5G market.

The layoffs mainly cover Samsung's mobile phone business, Tencent News Yixian reported on Monday, citing sources close to the matter.

"The layoffs also involve other business departments, but most cuts fall on salespeople in its mobile phone business," the person was quoted to have said.

Samsung confirmed the layoffs in a statement sent to the Global Times on Monday. Due to uncertainties in internal and external business environment as well a fiercely competitive market, Samsung did the adjustment of relevant business branches, the statement said.

Catering to development in the 5G era, Samsung adjusted its product line to focus on 5G and stepped up strategic cooperation with leading Chinese retail channels in order to strengthen its mobile business in China market, it continued.

As Samsung's mobile phone market share in the Chinese market has declined to insignificance now, news of its layoffs has been frequent. In September, Samsung closed its last mobile phone factory in China, which was located in Huizhou, South China's Guangdong Province.