South Korea's Samsung Electronics smartphone business has recently been threatened by Chinese manufacturers such as Xiaomi, and its market share continues to be eroded. In addition to the smartphone business, Samsung's other business units have also been hit by Chinese manufacturers!
According to the "Korea Herald" reported on June 19th, Beijing time, Samsung Electronics is considering selling the LED business unit of China, Tianjin Samsung LED Co., Ltd., to a private equity firm based in Hong Kong, China.
Samsung's sales include LED packaging plants and facility sites. Hong Kong private equity firms are currently conducting due diligence.
South Korean media The Bell reported that after the sale of the LED business unit in mainland China, Samsung is likely to undergo a major restructuring of the LED business.
In recent years, Samsung LED business sales have been weak, mainly because of competition from Chinese competitors for cheaper products. After selling it, Samsung expects to outsource LED panel production to other companies.
After a few years of decline in the profitability of its own business, LG Group's component manufacturer LG Innotet also recently began to purchase LED products from external manufacturers.
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