Nvidia (American AI chip company)
On October 27, 2023, it announced its withdrawal from the Chinese market, and recently, thanks to the increase in its stock price, Nvidia has now become the world's No. 1 leading company by market capitalization.
Samsung Electronics (Korean mobile phone company)
In 2019, Samsung closed its last electronics factory in Huizhou, Guangdong Province, and completely transferred production lines to Southeast Asian countries such as Vietnam and India. Up to now, Samsung's global mobile phone shipments rank second in the world, closely catching up with Apple.
Google (American Internet Corporation)
On March 23, 2010, Google officially shut down its Google website in Chinese mainland and moved its search service to Hong Kong.
Yahoo (American Internet Company)
In 2021, it announced that it would stop providing services to Chinese mainland
Carrefour (French retail company)
Carrefour Group, Europe's No. 1 retailer and the world's second-largest international retail chain, had only four stores left in China as of May this year, and sold most of its shares to Suning.
Lotte Group (Korea Diversified Company)
In 2022, it announced the dissolution of its Chinese headquarters and instead invested in Southeast Asia and other countries.
Philips (Dutch Appliance Company)
In 2020, it will officially withdraw from the Chinese home appliance market
Panasonic (Nippon Electric Corporation)
In 2013, it closed its electrical plant in Shanghai
Nikon (Japan Camera Company)
In 2017, the company announced that it would cease operations in Chinese mainland
Suzuki (Nippon Motor Company)
In 2018, it announced that it would divest all shares of its subsidiary in Chinese mainland
Toshiba (Nippon Electric Corporation)
In 2021, it closed its last appliance factory in Dalian
Canon (Japan Camera Company)
In 2022, it announced its withdrawal from the Chinese mainland market and closed its factory in Zhuhai.
Sony (Japanese electronic entertainment company)
In 2023, the company announced that it has completed the transfer of its core production line and will relocate its main plant to Thailand.
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In summary, many foreign companies have left the Chinese mainland market one after another, and the reasons are different. Some foreign companies are forced to flee because they cannot compete with local enterprises in Chinese mainland; In order to take the initiative to reduce labor costs, some foreign companies have turned to Southeast Asia and other countries where labor is cheaper to invest and build factories; There are also political factors or trade frictions and other reasons, taking the initiative to withdraw from the Chinese mainland market.