Connect with us

Tech

Samsung to move manufacturing arm from Mexico to US

Published

on

Samsung refutes claims it’s going into car manufacturing

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.

RipplesNigeria ….without borders, without fears

Click here to download the Ripples Nigeria App for latest updates

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations