Technology companies mull a post-Brexit pull out
Some top technology companies are mulling if it is wise to try selling in the UK after the nation voted to leave the EU.
For those who came in late, last week the UK public believed several right wing politicians that all their problems were not really caused by right wing politicans, but rather the country’s membership of the EU. They were also believed that the country’s economy did not realy depend on the fact that it was in the EU.
This week the country is waking up to the fact that the right wing politicians did not really expect to win and did not have a plan if they did. They are trying to sing a rousing chorus of “there will always be an England” even as they are being hauled up for barefaced lying.
Meanwhile the technology companies who moved to the UK or sell into the country because of its EU Linkes are thinking of doing a Brexit of their own.
Samsung and LG Electronics’ sales in the region in recent years have already been miserable, but Brexit is expected to add hurdles for the two companies.
Local companies do not operate production facilities in the UK. Samsung Electronics’ European production base for home appliances is located in Poland, and those for television products are in Slovakia and Hungary. LG Electronics’ main European facility is located in Poland.
With the UK now severed from the EU, industry watchers have raised concerns that Korean companies’ products made in Europe could be subject to tariffs when entering the UK market.
Samsung is also reported to considering relocating its European headquarters in London to a location in Europe.