According to the latest information, Samsung Electronics sold fewer products in China during the first half of 2023 compared to the same time last year. The company made about 12 trillion won less in sales.
According to the semi-annual report of Samsung Electronics, the company’s sales in China for the first half of this year totaled 17.808 trillion won. This is a sharp drop of 12.654 trillion won (41.5%) when compared to the 30.462 trillion won sales in the first half of the previous year.
The last time Samsung’s first-half sales in China dipped to the 17 trillion won range was four years ago in 2019, when it was 17.814 trillion won. The proportion of Samsung’s total sales from China has decreased by 4.7 percentage points, going from 26.4% a year ago to the current 21.7%.
Out of Samsung Electronics’ total sales of 81.8978 trillion won in the first half of this year, which includes both domestic sales and exports, 17.808 trillion won, or 21.7%, came from China. The proportion of sales from China was 29.9% at the end of 2021, but has been continually decreasing, reaching 26.4% in the first half of the last year and 25.8% by the end of that year.
- Shanghai Samsung Semiconductor (SSS) – 6.59 trillion won, a 49.5% decrease from the 13.55 trillion won.
Samsung is also reducing its number of operations in China. According to the Korea CXO Institute, Samsung has reduced its affiliated companies in China from 87 in 2018 to 65 this year, a decrease of 22 in five years.
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