Tech giant Samsung shifts its focus to emerging fields

South Korean technology giant Samsung Electronics Co Ltd is adjusting its strategy in China as it has closed one of its smartphone manufacturing plants in Tianjin and plans to invest $2.4 billion to build new battery and capacitor plants in the city, in order to shore up its business in China.

Industry insiders said the tech heavyweight has faced pressure from local competitors that offer reasonably priced smartphones, and the choice to close its plant in Tianjin and expand its presence in the core components and industry chain will be a significant shift for Samsung in China.

They added that the new plant shows Samsung's confidence to invest in Tianjin, and apart from mobile phone business, the company owns many competitive products, such as chips, capacitors, batteries and display screens in the world's largest smartphone market.