Samsung announced earlier today that it would shut down its TV manufacturing plant in Slovakia due to the COVID-19 outbreak and to stop it from spreading further. The plant will remain shut for a week, starting Monday. However, the company's TV manufacturing plants in Hungary and Poland will remain operational, as usual.
Samsung's TV plant will remain shut for a week
The South Korean company said that the decision has been taken for the safety of the employees and to prevent them from the possible contraction of COVID-19. Despite the announcement, the company's shares were trading 4.3 percent higher compared to the previous session. However, if the shut down stays longer than a week, the company would face plunged profits.
The European Union closed its borders and imposed a 30-day ban on travelers from outside the region after COVID-19 was declared a pandemic. Samsung had to temporarily close its smartphone factories in Korea, experience stores in Malaysia, and retail stores in the US due to the Coronavirus outbreak.
The company is also taking other measures to do its part in stopping the spread of the novel virus. It donated $24.6 million in South Korea to help contain the virus. It is also encouraging its employees to work from home where possible. Samsung has also started offering Galaxy Sanitizing Service to smartphone users free of cost to disinfect their devices.
