South Korea’s smartphone industry ends

South Korea’s smartphone industry ends

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The Korean market has always had a strong impact on smartphones, due to the huge popularity of brands like Samsung and LG. Both companies contributed to generating GDP on the country and constituted the main source of economic growth for the country.

However, China’s big competition will soon bring about an interesting change in strategy, as Samsung and LG are planning to close current factories in their home country.

The production capacity of the facilities is already limited and the trend is gradually phased out. The decision is not accidental and involves shifting production to external countries where the workforce is much cheaper.

But it’s time for a South Korean technology giant to shut down production operations across the country. The Strategy Analysis Data shows that in 2008, about 11.3% of all smartphones were established in that country.

However, this figure dropped to only 1.3% in the past year, as we are approaching the time when the figure becomes 0%. A good example in this regard is Samsung, which has produced more than 60 million smartphones in its home country more than ten years ago, with a capacity of not currently exceeding 20%.

At the same time, the company maintains a large network of facilities in countries like Indonesia, India, Vietnam, Brazil and others. The situation with LG is similar, which will also stop producing smartphones in South Korea.

South Korea’s smartphone industry ends

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