Samsung may not only shift its headquarters from London, but it may just leave the United Kingdom altogether. As you can probably guess, if this happens, it would be a direct result of the UK leaving the European Union (aka Brexit). Of course, Europe as a market has not lately been as profitable as it used to be for Samsung. In the year 2013, Samsung boasted of a 21% share in the total mobile sales number throughout the entire continent. Things however, went downhill from there as that share stands at only 12.8% right now. Samsung also did not release the Galaxy Note 5 in Europe last year and had stopped selling cameras, camcorders and associated accessories in there altogether.
It is evident that Samsung isn't exactly making any headway in Europe to speak of, but couple that with the fact that Britain may now impose heavier import taxes on them and the decision to leave the UK starts to seem like an inevitable course for the Korean company. As the United Kingdom will no longer have to follow the tariff regulations and import duty models laid out by the Union, the general consensus is that taxes will now increase for all foreign companies operating within the nation.
Author: Saikat Kar (tech-enthusiast)