Samsung to Move Headquarters to Warsaw?
- New Europe Investor
- October 15, 2015
With European sales in 2014 falling over 22%, reports this week suggest that Samsung may be preparing to move its headquarters from the UK capital London to Warsaw in Poland.
The South Korean company has denied the reports which originated in Korea itself, but with falling sales, few doubt that the company are looking at a variety of cost cutting measures. Samsung have already been quietly laying off people in Europe, and have also been moving certain elements of its business to Warsaw where it already has a R&D centre.
Western Europe has become a saturated market for mobile phones and the fact there is still room for growth in Central and Eastern Europe, may contribute to the reports circulating about the relocation. Additionally, the fact that Samsung Electronic’s vice chairman Mr. Lee Jae-yong, visited the company’s offices in Poland in May could be adding to the speculation.
Many believe Samsung’s current struggle revolves around the success of Apple’s newer large screen devices, something Samsung has previously had much success with.