Samsung pulling TVs, home appliances from China

Samsung Electronics will stop selling televisions and home appliances in China, marking a retreat from one of the world’s largest consumer markets. The decision follows intensifying competition from domestic brands and a shifting business environment, according to a company statement. While production at its Suzhou factory remains unaffected, Samsung will continue offering smartphones and semiconductor products in China. The move impacts consumer electronics like TVs, washing machines, and refrigerators, where Samsung’s market share has plummeted. As of early April, the company held just 3.62% of China’s offline TV market, 0.41% for refrigerators, and 0.38% for washing machines, far behind local competitors dominating over 90% of the TV sector and 60% of home appliances. Samsung’s TV and appliance division reported a 200 billion won ($138.4 million) operating loss last year, contrasting with record earnings from its chip division, driven by AI demand. The company recently replaced its TV business chief amid struggles in that segment. The decision aims to minimize customer impact, with Samsung reviewing support measures for business partners. Production and sales of smartphones and chips in China will continue unaffected.