Samsung Electronics will shut down its TV production plant in Galanta, Slovakia, in May, industry sources said. The closure ends 24 years of operations to improve efficiency. The facility currently employs about 700 workers.
Samsung Electronics Co. will close its TV production plant in Galanta, Slovakia, in May, ending 24 years of operations, Yonhap News Agency reported on March 19, citing industry sources. Established in 2002, the facility has supplied TVs to the European market and currently employs about 700 workers. The company plans to provide reemployment support for the affected staff. The move responds to prolonged low growth in the global TV market and intensifying competition. High energy prices in Slovakia and rising production costs from surging memory and component prices also contributed. Samsung aims to enhance operational efficiency through this decision.
