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Samsung Elec says halts TV production in Thailand

Published 05/20/2015, 11:25 PM
© Reuters. A visitor takes photographs of a Samsung Electronics' 105-inch Curved Ultra High Definition TV at the company's headquarters in Seoul
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SEOUL (Reuters) - South Korea's Samsung Electronics (KS:005930) Co Ltd, the world's top television maker, on Thursday said it stopped TV production in Thailand in the first quarter to streamline its global manufacturing footprint.

The move comes after the company last year announced a $560 million investment to build a consumer appliances complex in Vietnam, to mainly produce TVs, as part of efforts to boost output across segments including smartphones and displays in the lower-cost country.

A Samsung spokeswoman did not say whether the company would move TV production from Thailand to Vietnam.

© Reuters. A visitor takes photographs of a Samsung Electronics' 105-inch Curved Ultra High Definition TV at the company's headquarters in Seoul

South Korea's LG Electronics Inc, which ranks second in the global TV market, will soon shift its TV production in Thailand to Vietnam, where labor costs are cheaper and China-based suppliers are closer.

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