On May 6th, the stock price of South Korean tech giant Samsung Electronics skyrocketed, becoming the second Asian company to reach the trillion-dollar milestone after TSMC. On the same day, Samsung Electronics announced the suspension of sales of all home appliances, including TVs and displays, in the Chinese mainland market.
In an official statement on May 6th, Samsung Electronics stated that in response to the rapidly changing market environment, after careful consideration, they have decided to halt the sales of all home appliances including TVs and displays in the Chinese mainland market. The company pledged to continue providing regulated after-sales services to users who have purchased Samsung home appliances, in accordance with consumer rights protection laws and national quality regulations, ensuring that users’ legitimate rights and interests are not affected.
According to information on their official website and e-commerce platforms, Samsung’s home appliance products sold in the Chinese mainland market mainly include TVs, refrigerators, washing machines, dryers, and clothing care machines.
Despite facing competition from Chinese brands in recent years, Samsung home appliances, especially in the TV and display sectors, have still maintained a leading position in the market, as reported by “21st Century Business Herald.”
Subsequently, discussions with tags like “Samsung” and “Samsung stops selling home appliances in the Chinese market” trended on Weibo, a popular social media platform in China.
Weibo influencer “HHP良” commented, “Just like with smartphones, without the mainland market, Samsung remains a top player in the global home appliance market. That’s all that needs to be said…”
Tech blogger “IT互聯網那點事” raised the question, “Why is Samsung’s home appliances struggling in the domestic market even though they are ranked second globally and first in TVs?”
Digital influencer “i冰宇宙” remarked, “An era comes to an end. The domestic market is too turbulent. Samsung is adapting and there’s no need to persist. They are changing strategies and focusing on other markets.”
A summary from Weibo influencer and tech service department staff at Iron Box City, “愛機人士”, pointed out that many Japanese and Korean household appliance companies have withdrawn from the Chinese market in recent years, including Samsung, LG, Toshiba, Sanyo, Panasonic, Sharp, and Sony, stating their reasons and actions.
On April 27th, “Nikkei Asian Review” reported that Samsung Electronics planned to withdraw its home appliance and TV sales business in China within the year. With intense local price competition, the South Korean tech giant is shifting its strategic focus to the strong-performing American market.
Notably, on May 6th, Samsung Electronics’ stock price surged by 14.41%, surpassing the trillion-dollar mark for the first time and becoming the second Asian company after TSMC to reach this milestone. This significant increase also drove the South Korean composite stock index (KOSPI) up by 6.45%, reaching 7384.56 points, setting a new historical record.
Regarding financial updates, Samsung Electronics released its first-quarter financial report for the 2026 fiscal year on the same day.
The financial data revealed that the company achieved revenues of 133.9 trillion Korean won during the reporting period, with a 43% increase quarter-on-quarter and a 69% increase year-on-year. Operating profits reached 57.2 trillion Korean won, showing a remarkable 185% increase quarter-on-quarter and a staggering 756% increase year-on-year. Net profits amounted to 47.23 trillion Korean won, reflecting a 474.3% year-on-year growth.
By：OpenAI GPT-3 with minimal changes.