Samsung Electronics stands to be a major beneficiary of the China production pro...
SEOUL - 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.
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. “Samsung is better positioned to weather the virus fallout than its formidable rivals such as Huawei and Apple,” a person with knowledge of Samsung’s supply chain told Reuters.Another person familiar with Samsung’s thinking told Reuters: “Samsung does not say it publicly. But it is relieved.”
TrendForce recently cut its first quarter production forecasts for Huawei by 15% and Apple by 10%. It cut projections for Samsung Electronics by a smaller 3%. FILE PHOTO: An attendee wears a surgical mask during Samsung Galaxy Unpacked 2020 in San Francisco, California, U.S. February 11, 2020. REUTERS/Stephen Lam/File Photo
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