Samsung Group To Shut Down TV Production In Thailand
Samsung has stopped TV production in Thailand to streamline global manufacturing operations, and to cut costs by moving to Vietnam
Samsung has stopped TV production in Thailand to streamline global manufacturing operations, and to cut costs by moving to Vietnam
Samsung Electronics (OTCMKTS:SSNLF), the world’s largest TV manufacturer, has taken a backward step in its television sets’ production. Today, the company announced that it has stopped TV production in its Thailand factory for this quarter, in an attempt to streamline its worldwide manufacturing and selling operations.
Last year, Samsung had announced that it will be investing $560 million in a factory based in Vietnam, which will focus solely on making consumer appliances, including TVs and other home- and office-based equipment. This move was largely planned to improve the output of smartphones, which is Samsung’s other main product category, and to recapture the market that it had lost to Apple Inc. (NASDAQ:AAPL).
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