Last weekend, Samsung announced that it had officially stopped selling several electronic products in China. The affected products were TVs and home appliances such as monitors, large commercial monitors, air conditioners, refrigerators, washing machines, dryers, laundry and clothes dryers, clothes care machines, audio, projectors, vacuum cleaners, air purifiers and other home appliances. The decreasing competition from Chinese products is a factor in the products no longer being sold.
Samsung said it would take steps to minimize the impact on customers and is reviewing support for business partners affected by the decision. This action was taken after Samsung's TV and home appliances business recorded losses due to increased competition and the impact of Trump's Tariffs.
The decision to stop sales in China may be the most surprising because China is the largest TV market in the world. Although Samsung was still the largest TV manufacturer last year, its position has been challenged by TCL. With TCL teaming up with Sony to produce a new generation of TVs, competition will only get fiercer.
Samsung will still sell smartphones in China despite facing much stiffer competition in this business. The fortunes of Samsung's consumer business are different from its semiconductor business, which recorded a more than 7-fold increase driven by high demand for memory.
