SEOUL (Reuters) – Samsung Electronics stands to be a major beneficiary of the China production problems announced by rival Apple Inc on Monday, reaping the rewards of a decade-long bet on low-cost smartphone manufacturing in Vietnam.
FILE PHOTO: Attendees look at a Samsung Galaxy S20 Ultra 5G smartphone during Samsung Galaxy Unpacked 2020 in San Francisco, California, U.S. February 11, 2020. REUTERS/Stephen Lam/File Photo
Half of Samsung’s smartphones are now made in Vietnam, where the coronavirus that has crippled the China operations of Apple and many other firms has so far had only a limited impact on its production.
Apple said on Monday it would not meet its revenue guidance for the March quarter due to the coronavirus impact on both production and sales in China, where most iPhones are made. Chinese smartphone maker Xiaomi Corp last week also flagged a hit to its March quarter sales.
Huawei, another major Samsung rival, has not announced any production problems, but Samsung…
Source Reuters Tech News