Samsung Electronics focuses on China, where phone sales lagSamsung Electronics has established a special team to spearhead efforts to prop up sales of its mobile phones and electronic devices in the Chinese market, industry sources said Sunday.
The new team will focus on mobile devices, consumer electronics and video displays, and will be directly managed by Han Jong-hee, head of the newly merged unit for mobile devices and appliances named the DX (Device eXperience) Division, according to the sources.
Sources also raised the possibility that Samsung Electronics Vice Chairman Lee Jae-yong could visit China at the end of the year or the beginning of next year. Last year, Lee visited a Samsung Electronics chip plant in the northwestern Chinese city of Xi'an.
China is the largest market for Samsung Electronics, accounting for around 30 percent of the company's sales.
Samsung's share in the Chinese smartphone market hit over 20 percent in 2013-2014 but has been less than 1 percent since 2019, according to research firm Counterpoint.
Observers said the decline in sales is due to the rising competition from Chinese phone makers, including Xiaomi, Huawei and Vivo, as well as the Chinese boycott of Korean goods over the deployment of an advanced U.S. missile defense system in Korea.
In October, Apple surpassed Chinese phone maker Vivo in total share in the Chinese market, becoming the largest smartphone brand in the country.
Samsung's new foldable phones — the Galaxy Z Fold3 and Galaxy Z Flip3 — have been widely popular in Korea since their launch in August but have been struggling in the Chinese market. Yonhap