Samsung Electronics says to cut production volume at China mobile phone plant - Reuters

Samsung Electronics says to cut production volume at China mobile phone plant Reuters

Samsung Electronics Co Ltd said on Wednesday it has decided to cut the volume of mobile phone production at its plant in the Chinese city of Huizhou due to the impact of intensifying competition in the country. Samsung's statement followed a report by financial magazine Caixin saying the firm had offered voluntary redundancy for some employees at the factory. Samsung declined to further comment on the amount of the planned reduction volume when contacted by Reuters. Its share price was 1.3% higher at midday, while the broader KOSPI market was up 0.4%. Samsung, the world's biggest smartphone...