Samsung is going to close its TV factory in Galanta, Slovakia, in May. This factory has been working for 24 years and has made televisions mainly for European customers. After the closure, the factory will stop all production.

The company said this step is part of its plan to run its business in a better and more efficient way. The TV market around the world is not growing fast anymore. Also, many companies are competing strongly with each other. Because of this, Samsung wants to reduce costs and change how it makes its products.

The big reason for closing the factory is the high cost of running it. Electricity and other energy costs in Slovakia have become very expensive. At the same time, the price of important TV parts like memory chips and other components has also increased. This makes it costly to produce TVs there.

Image via Samsung Newsroom

About 700 people work in this factory. Samsung said it will help these workers after the factory closes. The company plans to support them in finding new jobs and help them during the change so they are not left without options.

The Galanta factory has been an important place for Samsung since 2002. It helped make and send TVs to many countries in Europe. It played a big role in Samsung’s business in the region for many years.

Even after the factory closes, Samsung will still sell TVs and other electronic products in Europe. The company will continue its business but will make products in other places where costs are lower.

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