The South Korean company has seen its share of the Chinese market shrink to 1 percent in the first quarter of this year, losing out to home-grown brands like Huawei [HWT.UL], according to market research firm Counterpoint, which pegs Samsung’s share of the pie at about 15 percent at mid-2013.
“As part of ongoing efforts to enhance efficiency in our production facilities, Samsung Electronics has arrived at the difficult decision to cease operations of Tianjin Samsung Electronics Telecommunication,” Samsung said in a statement, referring to the plant in northern Chinese city of Tianjin.
