Samsung to Close Slovak TV Manufacturing Plant Despite €60 Million Profit

Samsung will shut down its television manufacturing plant in Galanta, Slovakia, despite the facility generating a net profit of 60 million euros last year. The South Korean electronics giant's Slovak operation saw only a modest decline in profits of 2 million euros compared to the previous year, while revenues actually increased slightly. The closure represents one of Slovakia's largest industrial losses in recent years, with 800 core employees set to lose their jobs and suppliers in the region already beginning to shut down their operations. The decision comes as a surprise given the plant's continued profitability, highlighting the challenges facing Slovakia's manufacturing sector even when facilities remain financially viable.