Samsung reportedly to stop TV and appliance sales in China
Business
Samsung is reportedly stopping sales of its TVs and home appliances in China, blaming fierce competition from local brands and rising costs.
The company isn't leaving China altogether. You'll still see Samsung phones, chips, and medical gear around.
Net profit slump and leadership shake-up
Samsung's profits from these products in China have dropped sharply: net profit fell to $116 million last year from 300 billion won before.
With tariffs and other global pressures piling on, Samsung is now shaking up its leadership and focusing more on areas where it's still strong.