In an attempt to restructure its business strategy, both home as well as abroad, Samsung has decided to relocate its Europe headquarters from its initial location in London to Warsaw, Poland. The relocation will be finished within the year and it is a strong indicator of a business strategy shift after its sales have fallen 22.7 percent in Europe.
It seems Samsung has completely lost hope in this region since the Galaxy Note 5 wasn’t meant for Europe in the first place either. Sales in Europe fell to 42.95 trillion won as opposed to last year’s 52.67 trillion won, which is a very significant decrease. Employees in Europe are also being laid off following this restructuring. Lee Jae-yong, Samsung Electronics’ vice chairman, allegedly visited the Polish manufacturing site for inspection back in May.
Will this business strategy be a success for Samsung? They seem to be moving out of key markets like Europe and focusing on the Asian market and the US market instead, and while this may be a good move for business, is it also a good move for consumers? Only time will tell.
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