Chinese fret as Samsung, other giants leave

Local officials and workers in China’s Guangdong and Jiangsu provinces may have to brace for lost revenue and jobs as Korean tech giant Samsung has reportedly decided to wind up its last production lines and leave the country for good.

There have been reports that Samsung’s factory in Huizhou city in Guangdong – where some of its best-selling handsets like the Galaxy smartphone series were assembled – will shut down, following similar closures in Shenzhen and Tianjin in northern China.

The Huizhou base kept the local economy ticking during its heyday as it churned out electronic products for Chinese buyers and for export to the US and Europe. But rumors started to swirl right after the Chinese New Year break in February that the factory would lay off workers soon.

Read more: Asia Times