Samsung plans to cut jobs in China, reports  

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Despite Samsung denied the claims about reducing its workforce, a report from China claims that the South Korean company is planning to cut jobs.

Samsung is apparently planning to cut 1,000 jobs in China, which would affect around 9 per cent of the company’s workforce, local media reported.

The report cited unidentified sources, but the officials from Samsung’s headquarters in Beijing were not available for comment.

The company’s net profit declined by 8 percent in the second quarter of this year due to intensified competition from local brands like Huawei and Xiaomi.