Samsung to exit Hong Kongβs home appliance market β report
South Korean tech giant Samsung is reportedly withdrawing from Hong Kongβs large home appliance sector, months after exiting the mainland Chinese market.
Korea Economic TV reported on Wednesday that Samsungβs smartphone, TV and computer monitor operations in Hong Kong will be unaffected.
However, air conditioners, vacuum cleaners and fridges are among the products already marked as sold out β or removed from β Samsungβs official website and local retailers, according to HKFPβs checks on Thursday.
The local home appliance sector is reportedly worth 2.7 trillion won (HK$15 billion), but has seen intensifying competition. US and Japanese brands compete at the premium end, with Chinese manufacturers serving the lower and mid-range segments.
Samsungβs operations in Taiwan remain unaffected by its withdrawal from mainland China.
HKFP has reached out to Samsung for comment.
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