Samsung sees third straight year of sales decline in China
Things aren’t looking so good for Samsung in China even though it has made efforts to improve its fortunes in one of the most lucrative markets on the planet. Samsung has been seeing a decline in sales for three years straight in the People’s Republic, the annual revenue it generates from the country has significantly been reduced during this time period.
Samsung’s annual revenue from China has declined from 40.1 trillion won ($34.9 billion) in 2013 to 33 trillion won in 2014 and 31 trillion won in 2015. The proportion of sales in China has subsequently dropped in Samsung’s entire revenue, it was at 18 percent in 2013 and now stood at 15 percent in 2015. Samsung made these revelations in its sustainability report 2016, this is an annual report that the company releases to provide information on its environmental, social, and economic performance. The company has been taking steps to improve its position in China. The People’s Republic showed overwhelming support for the Galaxy S7 and the Galaxy S7 while Samsung is also catering to the customers there with exclusive handsets like the new Galaxy C series. Even if things slightly improve by the end of this year it will take some time for Samsung to regain the footing it has lost to rivals in China.Join the Discussion