Samsung Electronics Co is likely to cut jobs in China, amid weakening smartphone sales, a local news site said on Monday.
The South Korean handset giant is planning to lay off more than 1,000 employees in the world’s largest smartphone market, according to qq.com, a news portal owned by Tencent Holdings Ltd. The cut represents 9 percent of its workforce in China, and the positions will include marketing, sales and product development, the report said, citing an unidentified source.
The once unbeatable smartphone giant is now facing competition from companies such as Xiaomi Corp and Huawei Technologies Co Ltd as local brands are introducing high-end devices at a fraction of the prices that Samsung charges.
(Source: The Jakarta Post)