Tech
Samsung to move manufacturing arm from Mexico to US
Electronics and smartphone giants, Samsung is planning to move the appliance manufacturing arm of the company from Mexico to the US.
A senior Samsung official confirmed the previously reported rumours on Thursday, which would bring the home appliances division north out of its current location in Mexico.
The confirmation came at a media event at which Samsung unveiled its newest premium washing machine known as the “Flex Wash.” At the unveiling, Suh Byung-sam, executive vice president of the digital appliances business of the consumer electronics division at Samsung, noted that the electronics maker is “seriously reviewing” its options.
“The company is observing recent global trends in order to enhance competitiveness abroad,” Suh said. “It is considering a plan to open a plant in the U.S. as part of mid- and long-term strategies.”
Read also: ‘Old phones’ make comeback, threatening iPhone and others
As per a Wall Street Journal report, Samsung is looking at no fewer than five different states to become the new home of its American facilities, with South Carolina allegedly the most likely candidate.
The firm is planning an initial capital investment of about $300 million. At present, everything remains in planning stages, and specifics have yet to be agreed upon.
Should Samsung indeed move a portion of its manufacturing process to the U.S., it could mean an increase in production of refrigerators, washers, dryers, and other home appliances, which could result in Samsung pouring more money into the country. The company says, “This is a complex process that, like all strategic business decisions, will not be made final until it is determined through proper due diligence and planning that it is the best option for Samsung”, the company said.
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