[THE INVESTOR] Samsung Electronics
’ sales in China continued its downward spiral for the third consecutive year in 2015, according to a report released by the tech giant on July 3.
The annual revenue in the Chinese market continued to decrease from 40.1 trillion won (US$34.9 billion) in 2013, 33 trillion won in 2014 and 31 trillion won in 2015, according to its sustainability report 2016, an annual report that provides information on the firm’s performance on economic, environmental, and social fronts.
Samsung Electronics president and mobile business division chief Koh Dong-jin
The proportion of the Chinese sales in the firm’s entire revenue has consequently dropped -- 18 percent, 16 percent, and 15 percent in the respective years.
The decrease in sales is seemingly attributable to the increasing clout of Chinese electronics and smartphone-makers including Huawei, OPPO, and Vivo. The Korean tech giant, which had led the Chinese smartphone market for some years until 2013, is now ranked fifth in terms of sales.
By Kim Young-won (firstname.lastname@example.org)