China is an important market and while Samsung once enjoyed a considerable share in the country's smartphone market, it has since fallen to 0%. The company needs to do a lot more than just launch basic phones to revive its fortunes in the lucrative market.
Samsung has set up a dedicated team to pursue a turnaround in China. To that end, top-level visits have begun with Samsung leaders heading over to China for new partnerships and business opportunities.
Samsung aims to regain lost ground in China
Samsung Electronics vice chairman and co-CEO Han Jong-hee recently made a three-day visit to China. He's also the head of Samsung's Device Experience business, the division that's responsible for making smartphone, TVs, and home appliances. Han was accompanied by Jang Sang-ik, the head of procurement for Samsung's TV business.
Han met top executives from JD.com, a leading online retailer in China. He later met with Samsung's head of China operations and the staff there. JD had proposed manufacturing TVs for Samsung using local parts, with Samsung simply providing its branding, but Samsung reportedly declined that proposal.
Han also met with HKC, the world's third-largest supplier of LCD panels, and also potentially a supplier of LCD panels for Samsung. The company previously used to source LCD panels from BOE but after BOE filed patent lawsuits against Samsung, the Korean giant has been looking elsewhere for its panel sourcing requirements.
